Why Pony AI Inc. (PONY) Crashed On Monday

We recently published a list of These 10 Stocks Already Sank in June. In this article, we are going to take a look at where Pony AI Inc. (NASDAQ:PONY) stands against other worst performers on Monday.

Pony AI fell by 9.4 percent on Monday to end at $17.45 apiece as investors sold off positions to mitigate risks from the escalating trade tensions anew between the US and China.

Investor sentiment was particularly dampened by renewed fears of Chinese firms’ possible delisting from the US stock exchanges given the ongoing trade tensions.

Why Pony AI Inc. (PONY) Crashed On Monday

A software developer typing on a laptop in a modern office environment.

Traders also appeared to have shunned Pony AI Inc.’s (NASDAQ:PONY) recent partnership with Shenzhen Xihu Corp. Ltd. for the deployment of more than 1,000 units of Pony AI’s seventh-generation robotaxis in Shenzhen over the next few years.

Xihu Group will leverage its strength on fleet and asset operations, safety and service guarantees, and benefit economically from the fleet and asset operations while, Pony AI Inc. (NASDAQ:PONY) will focus on AI technology innovations and scalable Robotaxi dispatch and service

Pony AI Inc. (NASDAQ:PONY) is the first company authorized to operate paid fully-driverless robotaxis within Shenzhen’s city centers.

Overall, PONY ranks 1st on our list of worst performers on Monday. 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.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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