Pony AI (PONY) drops as investors wait for potential Uber acquisition.

Pony AI Inc. (NASDAQ:PONY) saw a 3.37% drop in share prices on Monday, closing at $13.20 per share. Investors awaited updates on Uber Technologies Inc.’s (NYSE:UBER) potential acquisition of Pony AI’s US subsidiary. Reports revealed Uber founder Travis Kalanick’s interest in acquiring Pony AI’s US arm, with Uber expressing support for the acquisition.

Pony AI Inc. (NASDAQ:PONY) has been considering spinning off or selling its US arm since 2022, even developing a duplicate of its software. The buyout bid from Uber Technologies Inc. (NYSE:UBER) comes after the partnership between the two companies to expand Pony AI’s global market presence, starting in the Middle East.

Read more at Yahoo Finance: Pony AI (PONY) Drops as Investors in Wait-and-See Mode for Uber Acquisition