Why Pony AI Stock Is Falling Hard Today
Shares of the Chinese autonomous-driving company Pony AI (NASDAQ: PONY) were falling this morning. The decline came after reports that TuSimple, a maker of self-driving trucks, sent sensitive autonomous-vehicle data to China even as it promised the U.S. government not to disclose information based on national security concerns, according to The Wall Street Journal.
Pony AI isn't part of the controversy, but the U.S. and China aren't exactly on the best of terms right now amid tariff concerns and geopolitical positioning. The reports about TuSimple are likely worrying some investors that the U.S. could take a more restrictive approach on how autonomous-vehicle data is collected by Chinese companies.
Pony AI's stock was down by 13.8% as of 11:16 a.m. ET Wednesday.
Source Fool.com
