Pony AI Inc (PONY) saw its stock price plummet by 5.28% in pre-market trading on Friday, despite circulating reports of potential interest in its US arm from high-profile investors. The significant drop comes as a surprise to many, given the seemingly positive nature of the news surrounding the company.
According to recent reports, Travis Kalanick, co-founder of Uber and current owner of CloudKitchens, is eyeing Pony AI's US operations. The New York Times reported that Kalanick is in preliminary talks with Uber Technologies to help fund the potential acquisition. This move could potentially bring significant backing and expertise to Pony AI's autonomous driving technology in the US market.
However, the stock's downward movement suggests that investors may be interpreting this news differently. Possible concerns could include the potential loss of a valuable asset if the US arm is sold, uncertainty about the terms of any potential deal, or fears that such a move might signal difficulties in Pony AI's global strategy. It's also possible that other factors not yet publicly disclosed are influencing the stock's performance. As the situation develops, market watchers will be keen to see how Pony AI addresses these concerns and whether the reported interest from Kalanick and Uber materializes into a concrete deal.
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