Pony AI (PONY) Jumps as Investors Bet on Beijing Intervention on Weak Economy

We recently published All-Time High Fever: 10 Stocks Soaring and Breaking Records. Pony AI Inc. (NASDAQ:PONY) is one of the best performers in last week’s trading.

Shares of Pony AI grew by 10.94 percent on Monday to close at $16.63 apiece, alongside its Chinese counterparts, as investors placed bets on Beijing’s intervention to turn around recent economic weakness.

According to the latest data, China’s factory output and retail sales reported their weakest growth since last year, putting pressure on the government to roll out initiatives to fend off a sharp slowdown.

In recent news, Pony AI Inc. (NASDAQ:PONY) partnered with Mowasalat, one of the largest transportation providers in Qatar, for the deployment of autonomous vehicles in the Middle Eastern country.

Under the partnership, Pony AI Inc.’s (NASDAQ:PONY) robotaxis have begun testing on public roads in Doha, with the initial phase conducted with safety operators onboard.

The trials were said to be focused on adapting the Chinese firm’s autonomous driving stacks to the nation’s weather, road infrastructure, and traffic conditions.

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Disclosure: None. This article is originally published at Insider Monkey.