10 Stocks Crash Harder Than Wall Street

4. Pony AI Inc. (NASDAQ:PONY)

Pony AI fell by 13.54 percent on Wednesday to finish at $18.46 apiece as investors resorted to profit-taking following the prior day’s surge, buoyed by its official entry into the Middle East through its partnership with Dubai’s Roads and Transport Authority (RTA).

In a statement, Pony AI Inc. (NASDAQ:PONY) said the partnership covers the deployment of its advanced robotaxi fleet in the region, in support of the city’s 2030 Smart City Vision, which targets to transition 25 percent of its transportation to autonomous mode by 2030.

According to the company, initial supervised trials are set to launch in 2025, followed by fully driverless operations in 2026.

Additionally, Pony AI Inc. (NASDAQ:PONY) plans to start mass production and deployment of its seventh-generation robotaxis in the second half of 2025, as well as ramp up its robotaxi fleet globally to thousands of vehicles within the next two years.

The company also said that it collaborated with industry leaders such as Toyota, GAC Motor, and BAIC Motor to develop its seventh-generation robotaxis.