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Why Did SoundHound AI Stock Soar, Then Sink Today?

TheMotleyFool

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Why Did SoundHound AI Stock Soar, Then Sink Today?: https://g.foolcdn.com/editorial/images/769286/young-woman-frustrated-laptop.jpg

SoundHound AI (NASDAQ: SOUN) was like a yo-yo on Thursday morning. Shares of the artificial intelligence (AI) systems developer soared as much as 18.5% higher. By 11:05 a.m. ET, though, the stock was down 5.7%.

What's behind SoundHound AI's big swings today? It's not clear.

The company didn't make any announcements that would explain the initial gain or the subsequent sell-off. SoundHound AI submitted regulatory filings to the U.S. Securities and Exchange Commission (SEC) on Wednesday, revealing some recent stock sales by Morgan Stanley. However, those sales doesn't seem to be large enough to move the needle very much.

Source Fool.com

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