Pony AI (PONY) shares are trading 5% higher on Monday as the stock is seeing a return of buying volume. Shares of the autonomous driving company started trading in late November at $13.00.
The Chinese company specializes in the development of self-driving systems.
Founded in 2016, Pony.ai focuses on creating safe and reliable autonomous driving solutions for passenger and freight transportation.
The company develops cutting-edge artificial intelligence, computer vision, and robotics technologies to enable vehicles to navigate complex urban environments without human intervention.
Pony.ai operates autonomous ride-hailing and delivery services in several cities. The company recently started a pilot program in California that involves the use of “safety drivers” in the vehicles.
Pony AI also partners with automotive manufacturers to integrate its autonomous driving systems into vehicles. The company’s goal is to make transportation more efficient, accessible, and sustainable in the future.
Shares of the newly traded stock have seen volatility during their first month of trading. The stock has traded as high as $16.32 with lows of $11.90.
Investors should expect that volatility to continue, though the growing future of autonomously driven vehicles in the United States suggests that PONY shares are likely to move higher.
Pony AI shares are too new to have a technical trend which help to forecast higher prices.
Investors should consider investments in Pony AI as highly speculative.
