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Chinese autonomous driving technology company Pony AI started trading on the Nasdaq on Wednesday at $15 per share, securing it a valuation of $5.25 billion. That opening price is 15% higher than Pony’s offering price of $13, which itself was at the high end of its expected range.
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Chinese companies had been avoiding stateside IPOs due to geopolitical tensions, but now they have fresh reason to consider U.S. markets.
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(Reuters) -Shares of Pony AI opened about 15% above their offer price in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.
The firm, which has headquarters in Silicon Valley and Guangzhou, China, makes tech that can turn cars into self-driving vehicles. Pony AI is having its initial public offering today. The firm, which is based in Silicon Valley but also has a headquarters in Guangzhou,
Jet.AI (NASDAQ:JTAI) has received Nasdaq confirmation that it has regained compliance with the $2.5M stockholders’ equity and minimum bid price requirements. As of November 26, 2024, there was ~$6.8M in pro forma shareholders’ equity and cash and cash equivalents of $6.
Shares of Pony AI opened about 15% above their offer price in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.
Stocks soared to record highs in November as Wall Street looked ahead to a second term for President-elect Donald Trump. Trump's incoming administration and the Fed's interest rate-cutting campaign are likely to remain in the spotlight in December.
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