Pony AI Inc. (PONY) declined 10.56% after ending a five-day winning streak

From Yahoo Finance: 2025-05-14 07:23:00

Wall Street’s main indices had a mixed finish on Tuesday, with the S&P 500 and Nasdaq up, while the Dow Jones fell. The Labor Department reported that April’s Consumer Price Index rose by 0.2 percent, bringing the annual inflation rate to 2.3 percent, the lowest since February 2021.

Pony AI Inc. (NASDAQ:PONY) ended a five-day winning streak by dropping 10.56 percent on Tuesday. The decline was attributed to profit-taking after a recent rally fueled by a partnership with Uber Technologies Inc. (NYSE:UBER) to expand autonomous driving globally, starting in the Middle East.

Pony AI Inc. (NASDAQ:PONY) and Uber plan to launch robotaxis in a key market in the Middle East later this year. The companies will initially have safety operators onboard to supervise the robotaxis until a fully autonomous commercial launch.

PONY ranks 6th on the list of worst performers on Tuesday. While acknowledging its potential, the focus is on AI stocks with higher return potential in a shorter time frame. There is an AI stock showing promise, trading at less than 5 times its earnings. Check out a report on this cheapest AI stock for more information.

Read more: Why Pony AI Inc. (PONY) Declined on Tuesday