Shares of autonomous driving company Pony AI Inc (NASDAQ:PONY) are surging this week, driven by reports of a potential takeover deal involving Uber Technologies Inc (NYSE:UBER) and its co-founder, Travis Kalanick. The preliminary talks would reportedly result in Kalanick running Pony AI, though financial details and Uber’s ultimate role remain unclear.
What Else: This news compounded an already positive week for the company. On Monday, Pony AI was added to the Nasdaq Golden Dragon China Index, a key benchmark for U.S.-listed Chinese firms. The inclusion, which makes Pony AI the only pure-play autonomous vehicle company on the index, sent shares soaring nearly 17% on Monday.
The combination of the index inclusion and takeover speculation has investors buzzing. This follows last month’s partnership announcement with Uber to deploy robotaxis, highlighting the company’s rapid advancements.
The potential for Kalanick to re-engage with the Uber ecosystem he helped build could add a compelling dimension to the future of the autonomous driving landscape.
Price Action: PONY shares are trading higher by 25% to $14.55 this week. The stock has a 52-week high of $23.88 and a 52-week low of $4.11.
Read Also: Pony.ai Begins Testing Futuristic Robotaxis In China, Mass Rollout Could Be Next
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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