Pony AI (NASDAQ:PONY) Shares Gap Down – Here’s What Happened

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.39, but opened at $10.80. Pony AI shares last traded at $9.9480, with a volume of 3,909,166 shares trading hands.

Key Pony AI News

Here are the key news stories impacting Pony AI this week:

• Positive Sentiment: Partnership and Europe launch — Pony.ai partnered with Uber and Verne to launch Europe’s first commercial robotaxi service in Zagreb, signaling tangible international commercialization and a new addressable market. Reuters: China’s Pony.ai to more than double robotaxi fleet, debuts in Zagreb
• Positive Sentiment: Operations & revenue growth — The company highlighted steep YoY growth in robotaxi and fare-charging revenues and reiterated a target to scale to ~3,000 robotaxis across 20+ cities this year, supporting longer-term revenue trajectory. GlobeNewswire: PONY AI Inc. Scales with 160% Robotaxi Revenues Growth YoY
• Positive Sentiment: Bullish options flow — Unusually large call buying was reported (27,007 calls), suggesting speculative or hedged bullish positioning by traders shortly after results. (No direct article link available.)
• Neutral Sentiment: New analyst coverage — BNP Paribas Exane initiated coverage with a “neutral” rating and a $12.50 price target, implying upside from current levels but a balanced view on near-term fundamentals. Finviz: Coverage note (BNP Paribas Exane)
• Neutral Sentiment: Earnings call transcripts available — Full Q4/2025 call transcripts were posted (useful for management color on unit economics, expansion cadence and margin targets). InsiderMonkey: Pony AI Q4 2025 Earnings Call Transcript
• Negative Sentiment: Mixed/poor earnings reaction and quality concerns — Market commentary flagged an EPS miss and very weak margin metrics; Proactive noted shares tumbled after the report. Management reported a GAAP net profit largely driven by a $132.5M paper gain on trading securities, which raises questions about recurring profitability and earnings quality. Those factors drove the earlier steep sell-off and are weighing on the stock today. Proactive: Pony.ai shares slide as revenue falls despite robotaxi surge MarketBeat: Pony AI earnings summary and metrics
• Negative Sentiment: High volatility & mixed data — Very high volume, a large beta, and conflicting EPS figures (some sources report a small positive EPS, others a miss) increase short-term uncertainty and likely amplify downward price pressure as investors sort through which numbers to trust. (Background market data and transcripts cited above.)

Analyst Ratings Changes

A number of brokerages have commented on PONY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pony AI in a report on Thursday, January 22nd. BNP Paribas Exane began coverage on Pony AI in a research note on Thursday. They set a “neutral” rating and a $12.50 target price for the company. CLSA started coverage on Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 target price on the stock. Macquarie Infrastructure began coverage on Pony AI in a research note on Monday, December 15th. They issued an “outperform” rating and a $29.00 price target on the stock. Finally, Barclays initiated coverage on Pony AI in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $15.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Pony AI Trading Down 6.0%

The company has a 50-day moving average of $13.40 and a 200-day moving average of $15.71. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -25.39 and a beta of 6.26.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PONY. HSG Holding Ltd acquired a new position in shares of Pony AI in the 2nd quarter valued at about $78,184,000. Aspex Management HK Ltd raised its stake in Pony AI by 728.1% during the third quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock worth $93,119,000 after acquiring an additional 3,640,447 shares during the period. Lingotto Investment Management LLP raised its stake in Pony AI by 72.6% during the fourth quarter. Lingotto Investment Management LLP now owns 4,107,512 shares of the company’s stock worth $59,559,000 after acquiring an additional 1,727,620 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pony AI in the third quarter worth about $89,174,000. Finally, Tiger Global Management LLC lifted its holdings in Pony AI by 683.8% in the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock worth $42,050,000 after acquiring an additional 2,530,000 shares during the last quarter.

Pony AI Company Profile

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.