Is SoundHound AI Stock a Buy Now?
SoundHound AI (NASDAQ: SOUN) has been a tough stock to own over the past two years. The audio and speech recognition company went public by merging with a special purpose acquisition company (SPAC) on April 28, 2022, and its stock opened at $8.72 before soaring to a record high of $14.98 a week later.
At the time, investors were impressed by its explosive sales growth, disruptive potential, and broad exposure to the expanding artificial intelligence (AI) market. But today its stock trades at less than $5. The bulls retreated as it missed its own forecasts, racked up steep losses, and struggled to expand. Rising interest rates also squeezed its valuations.
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Source Fool.com
