2023-09-18 12:35:00 ET
SoundHound AI (NASDAQ: SOUN) went public by merging with a special-purpose acquisition company (SPAC) on April 28, 2022. The audio and speech recognition company's stock started trading at $8.72 and rallied to an all-time high of $14.98 on May 5.
At the time, the bulls were dazzled by its rapid revenue growth and exposure to the expanding artificial intelligence ( AI ) market. However, it subsequently lost its luster as its revenue growth cooled off. Rising interest rates also cast a harsh light on its steep losses and popped its bubbly valuations. That's why its stock now trades at about $2. Should you buy this out-of-favor AI stock as the bulls look the other way?
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For further details see:
Is SoundHound AI Stock a Buy?