Why SoundHound AI Stock Lost 22% Last Month [Yahoo! Finance]
SoundHound AI, Inc. (SOUN)
Company Research
Source: Yahoo! Finance
specialist had no bad news to share last month, but investors shrugged off a handful of positive developments to drive the stock price lower anyway. The move still makes sense from a certain point of view. In my eyes, however, the price drop makes SoundHound AI a no-brainer buy right now. Nvidia's role in the spring's stock surge The June slide is a correction to an earlier jump. Semiconductor designer Nvidia (NASDAQ: NVDA) invested $3.7 million in SoundHound AI in 2023, building a 0.6% ownership stake in the smaller artificial intelligence (AI) company. When this investment was disclosed in February, Nvidia's modest position drove SoundHound AI's stock price sharply higher. The stock gained 66% overnight and tripled in price over the next two weeks. On March 15, one month after the disclosure, SoundHound AI's share price peaked at $10.25 -- more than four times the pre-disclosure level on $2.26 per share. Nvidia made several AI-oriented investments last year, and SoundHound A
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SOUN
News
- Serve Robotics stock soars 241% after Nvidia takes $4 million stake in the company [Yahoo! Finance]Yahoo! Finance
- SoundHound AI, Inc. (SOUN) Falls More Steeply Than Broader Market: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
- A Big Nvidia Stake Sends Another AI Stock Soaring [Yahoo! Finance]Yahoo! Finance
- Beef ‘O' Brady's introduces SoundHound's voice AI [Yahoo! Finance]Yahoo! Finance
- 3 Millionaire-Maker Artificial Intelligence (AI) Stocks [Yahoo! Finance]Yahoo! Finance
SOUN
Earnings
- 5/9/24 - Beat
SOUN
Sec Filings
- 7/15/24 - Form 4
- 7/1/24 - Form 4
- 7/1/24 - Form 4
- SOUN's page on the SEC website