Shares of autonomous driving firm Pony AI Inc (NASDAQ:PONY) are trading lower Tuesday, bucking positive operational news. The company announced Monday it secured a landmark permit for fully driverless commercial robotaxi services in Shanghai’s Pudong financial district.
What To Know: This approval makes Pony AI the only company with permits for fully driverless commercial operations across all four of China’s tier-one cities: Beijing, Shanghai, Guangzhou and Shenzhen.
The company will initially launch its service in the strategic areas of Jinqiao and Huamu, near the Lujiazui financial hub, targeting a premium user base.
The stock may be weighed down in recent sessions by a July short-seller report from Grizzly Research, which accused the firm of falsifying autonomous driving data, using misleading marketing and falling behind competitors.
The report also questioned Pony AI's financial health and its reliance on Chinese state support. In response, the company has pointed to its own recent milestones, including mass production of its new robotaxi and plans for significant fleet expansion by 2025.
Price Action: According to data from Benzinga Pro, PONY shares are trading lower by 6.95% to $13.76 Tuesday. The stock has a 52-week high of $23.88 and a 52-week low of $4.11.
Read Also: Pony AI Vs. WeRide: Who’s Leading China’s Robotaxi Race
How To Buy PONY Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Pony AI’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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