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. 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.
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. 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.
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This article is originally published at Insider Monkey.
