Sick Ponytail Palm - Help!

I'm hoping someone has seen this before and can help! I've had this ponytail palm for a few years (it's been re-potted once 1 year ago) and in the last few months it has developed brown circles on the new growth and it looks like it's rotting from the tops of the palm? The trunk still feels solid and hard all around. I first noticed the problem in the spring when I started leaving my doors and windows open - could it be a parasite or bug or is this is classic over-watering issue? If so, what should I do now and is it fatal for my pony?

 

Looks like overwatering / sitting in wet soil. Replace with soil that has better drainage.

 

Thanks I'll try that!

 

A container without drainage holes will aggravate the problem of overwatering.

 

Oh, yes, I didn't notice that. Replace that pot!

 

Thanks - currently it's actually in a plastic gardener pot with drainage holes sitting in a drainage tray WITHIN the black stone pot (if that makes sense....?). The black stone pot also has a hole at the bottom (i know this because it leaked out onto the floor one time!) but I will try replacing the soil and adding some stones, etc at the bottom of the gardener pot to maximize drainage.

 

Don't do that as it will actually impede drainage: The Myth of Drainage Material in Container Plantings (.pdf).

 

OMG! What a sucker I've been! I had no idea. thanks for myth-busting!