Why Pony AI Inc. (PONY) Soared Today

We recently published a list of These 10 Stocks Soared by Double Digits Today! In this article, we are going to take a look at where Pony AI Inc. (NASDAQ:PONY) stands against other stocks that soared today.

Pony AI saw its share prices jump by 19.09 percent on Thursday to close at $20.59 apiece as investors resorted to bargain-hunting following the previous day’s drop, as investors continued to digest its recent earnings performance.

In its financial statement, Pony AI Inc. (NASDAQ:PONY) said net loss widened by 80 percent to $37.4 million from $20.8 million in the same period last year, primarily due to investments its Generation 7 vehicles, one-time expenses associated with its IPO that was only settled during the period, as well as increased employee compensation.

A close-up of a mobile device, showing an advertiser reaching out to a consumer via a software-based platform.

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.

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 7th on our list of stocks that soared today. 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 has 10,000% 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.