Why Pony AI Skyrocketed This Week

Pony AI (NASDAQ: PONY) stock posted explosive gains this week. The share price of the Chinese autonomous vehicle technologies company ended the stretch up 42.7% compared to its level at the previous week's close, according to data from S&P Global Market Intelligence.Pony AI's valuation rocketed higher this week after it was announced that the company had launched its robotaxi services in Guangzhou, China. The company's share price is now up 64.5% from market close on the day of its November initial public offering (IPO).Pony published a press release on Friday announcing it had commenced robotaxi operations in Guangzhou, kicking off a powerful rally for its stock. The company noted it was the first and only company to have approval for robotaxi operations connecting Guangzhou's city center to Guangzhou Baiyun International Airport and Guangzhou South Railway Station. The rollout follows the service's debut in Beijing, where the company offers commercial robotaxis connecting riders to Daxing International Airport and Beijing South Railway Station.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool