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. 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. 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.
