Gary Black Weighs In On Pony AI's Growth Ahead Of Earnings Report: 'A Recently Announced Partnership With Uber…'

Future Fund LLC's managing director, Gary Black, has shared his thoughts on Pony AI's PONY stock as the Chinese AV company gears up for the quarterly results slated to be released next Tuesday.

What Happened: "$PONY AI ($17/share, Nasdaq ADR) is a good way to play future advances in global autonomy, although the stock is clearly overbought." Black said in a post on the social media platform X on Monday.

He highlighted how the company’s recent partnership with Uber Technologies Inc. UBER "has shifted sentiment significantly with $PONY +328% in the past 30 days." Black also cited favorable government regulations in China for the growth.

"PONY has already achieved Level 4 driverless operation in all weather conditions, 24 hours a day." He said. He also mentioned the company's 270-robotaxi-strong fleet, which spans major Chinese cities like Beijing, Guangzhou, Shanghai and Shenzhen, with a planned expansion to 1,000 robotaxis by the end of 2025.

Why It Matters: Ahead of the company's planned Q1 earnings report on May 20, Pony AI has been making moves in the AV sector. The company had announced it would partner with Tencent for Level 4 Robotaxis.

Separately, Pony AI also shared that Hesai Group Inc.'s HSAI LiDAR tech will power the company's latest fleet of robotaxis. Hesai had announced its latest LiDAR tech, which would enable Level 3 autonomous driving and feature double the detection distance of its current best-selling model, the AT128.

Price Action: PONY gained 8.20% in Pre-market trading, currently trading for $19.40, according to Benzinga Pro data.

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