Why Investors Slammed the Brakes on Pony AI Stock Today
Expectations were clearly high for robotaxi developer Pony AI's (NASDAQ: PONY) second-quarter earnings, which were published before market open on Tuesday. The company's solid but not spectacular performance and production update ended up discouraging some investors. Collectively, they traded out of the stock to leave it with a nearly 4% dip in price that trading session.
Reporting in both Chinese yuan and U.S. dollars, the China-based Pony AI revealed that its revenue leaped 76% year over year to just under $21.5 million. Much of that increase came from a more than tenfold rise in licensing and applications revenue. This came in at $10.4 million against slightly over $1 million in the same quarter of 2024.
Image source: Getty Images.
Source Fool.com
