SoundHound AI, Inc Class A ( (SOUN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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SoundHound AI, Inc Class A shares have been on a rollercoaster ride. Initially, the stock saw a boost due to a promising partnership with Red Lobster, which involved implementing an AI-powered phone ordering system. This move was expected to improve order efficiency and highlight the demand for SoundHound’s voice AI technology. However, the excitement was dampened by insider stock sales by key executives and growing concerns over competitive threats and profitability challenges, leading to mixed reactions from analysts.
More about SoundHound AI, Inc Class A
YTD Price Performance: -11.81%
Average Trading Volume: 59,142,035
Technical Sentiment Signal: Buy
Current Market Cap: $7.25B
For further insights into SOUN stock on TipRanks’ Stock Analysis page.
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