These 10 Stocks Were Sold Down Today, And Here’s Why

3. Pony AI Inc. (NASDAQ:PONY)

Pony AI dropped its share prices by 8.25 percent on Monday to close at $16.91 apiece as investors repositioned portfolios ahead of the release of its first quarter earnings performance.

In a statement, Pony AI Inc. (NASDAQ:PONY) said that it will report its earnings results before the US market opens on Tuesday, May 20.

In recent news, one of the company’s robotaxis caught fire during a routine road test following a system malfunction. The news sparked investor concerns about the safety of autonomous driving technologies.

The robotaxi reportedly left the roadway and was later captured blazing.

According to Pony AI Inc. (NASDAQ:PONY), the fire detected an “abnormal status” during operation and immediately triggered its safety protection mechanism, leading the vehicle to a full stop.

Meanwhile, the company officially filed its intention to list publicly on the Hong Kong Stock Exchange, as Chinese firms seek to find a backup plan over fears that the trade war between the US and China could force their delisting from US stock exchanges.