Why Pony AI Inc. (PONY) Crashed On Friday

We recently published a list of 10 Firms That Led Bloodbath Today. In this article, we are going to take a look at where Pony AI Inc. (NASDAQ:PONY) stands against other Friday’s worst-performing stocks.

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.

Why Pony AI Inc. (PONY) Crashed On Friday

A medical professional demonstrating the use of a Software-Based Prescription Digital Therapeutics Platform for treating Type 2 Diabetes.

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.

Overall, PONY ranks 4th on our list of Friday’s worst-performing stocks. While we acknowledge the potential of PONY, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than PONY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.