U.S. Stock Movement | XPeng rises 7%, Citigroup optimistic about the company's future prospects

On Monday, Pony AI's stock price rose, and as of the time of writing, the stock was up over 6.8%, trading at $21.68. In terms of news, Citigroup analyst Jeff Chung initiated coverage of the company's stock at the end of September, giving it a "Buy" rating with a target price of $29. Citigroup noted in the report that the autonomous taxi (Robotaxi) industry is reaching a critical turning point, with significant market growth potential. Analysts stated that as China's policy support for autonomous driving and smart mobility continues to strengthen, the pace of Robotaxi commercialization is accelerating. As one of the leading companies in the industry, Pony AI is expected to stand out in the competition. Citigroup holds an overall positive attitude towards the Chinese Robotaxi market and believes that Pony AI, with its technological advantages and policy dividends, is likely to become a long-term value investment target