Why Pony AI Inc. (PONY) Crashed On Wednesday

We recently published a list of Investors Are Dumping These 10 Stocks. In this article, we are going to take a look at where Pony AI Inc. (NASDAQ:PONY) stands against other worst-performing stocks on Wednesday.

Pony AI Inc. (NASDAQ:PONY) dropped its share prices by 5.06 percent to finish at $13.14 apiece as investors disposed of shares amid the risks of the faltering US-China trade talks and renewed calls from other states to delist Chinese firms from the stock exchanges.

Following the two countries’ 90-day tariff truce, US President Donald Trump expressed his frustration with China on Wednesday, saying that Chinese President Xi Jinping is “very tough and extremely hard to make a deal with.”

A close-up of a digital cloud, signifying the expansive reach of the software-as-a-service solution.

Trump’s social media post casted doubts over an expected potential phone call between the two leaders this week, with fears spilling over to stocks of Chinese companies, including Pony AI Inc. (NASDAQ:PONY).

Further triggering concerns were mounting calls from US states’ comptrollers to delist Chinese companies.

In a newly issued statement, Indiana Comptroller Elise Nieshalla said that there is a growing risk posed by China-based companies due to widespread failures to meet US transparency, accounting, and standards.

“As stewards of invested public funds, we have a responsibility to protect our beneficiaries from foreign entities to seek to exploit our capital markets while evading accountability,” she said.

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