Why Investors Slammed the Brakes on Pony AI Stock Today
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Pony AI's stock fell nearly 4% after the company reported second-quarter earnings that, while showing a 76% year-over-year revenue increase to $21.5 million, did not meet investor expectations. The revenue boost was largely due to a significant rise in licensing and applications revenue. However, the net loss widened to over $46 million, compared to a $30 million loss a year ago. The company is on track to meet its goal of producing 1,000 robotaxis by year-end, having produced over 200 so far.
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