10 Firms That Led Bloodbath Today

4. Pony AI Inc. (NASDAQ:PONY)

Pony AI saw its share prices drop by 15.44 percent to finish at $17.41 apiece as investors resorted to profit-taking following the previous day’s surge.

In recent news, Pony AI Inc. (NASDAQ:PONY) reported an 80 percent wider net loss of $37.4 million versus the $20.8 million registered in the same period last year.

The company attributed the increase to investments in its Generation 7 vehicles, coupled with one-time expenses associated with its IPO that was only settled during the period, as well as increased employee compensation.

Revenues, on the other hand, grew by 12 percent to $14 million from $12.5 million registered in the same period last year, thanks to a 200-percent jump in its Robotaxi services.

In recent news, Pony AI Inc. (NASDAQ:PONY) partnered with ride-hailing giant Uber Technologies Inc. (NYSE: UBER) to expand and offer its robotaxis in the Middle East through the Uber app.

The two companies also committed to deepening their partnership through expansion into other global markets.