10 Stocks Shining Bright Amid Wall Street’s Dull Spell

5. Pony AI Inc. (NASDAQ:PONY)

Pony AI bounced back on Tuesday from two consecutive days of losses, jumping 7.28 percent to finish at $14.59 apiece, as investors took heart from Macquarie’s bullish rating for the company, bolstered by its expansion plans.

In a market report, Macquarie issued an “outperform” rating on its first coverage of Pony AI Inc. (NASDAQ:PONY) on the back of its leadership in China’s robotaxi sector.

Additionally, the investment firm said that it expects Pony AI Inc.’s (NASDAQ:PONY) fleet to triple next year and benefit through more profitable operations from a projected 20 percent decline in hardware costs.

Last week, Pony AI Inc. (NASDAQ:PONY) announced that it would embark on an “asset-light” strategy and newer generations of low-cost driverless cars to drive growth in a bid to break even by 2030.

Under the asset-light model, the robotaxi operator would join forces with third-party companies such as taxi operators and ride-hailing platforms to finance the deployment of its robotaxi fleet.

This means that instead of owning and operating the fleet, Pony AI Inc. (NASDAQ:PONY) would sell its driverless cars to operators and license its autonomous driving technology and fleet management expertise for a fee.