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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Source Fool.com