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Feb 8, 2025 #sounstocktoday #soundhoundaistocknews #soundhoundstockanalysis#sounstocktoday #soundhoundaistocknews #soundhoundstockanalysis
SoundHound AI, known for its volatility in the AI sector, experienced a challenging January with its stock dropping 29%. This decline was largely attributed to increased competition, particularly during the CES event, where rival Cerence AI announced a significant collaboration with Nvidia, an investor in SoundHound. Despite introducing a new feature allowing voice-activated food ordering in cars, SoundHound's presentation underwhelmed investors, leading to a 10% stock drop.
A brief rebound occurred after partnering with Rekor, a roadway intelligence company, causing a 21% stock rise, though this gain was short-lived. SoundHound, though unprofitable with a high price-to-sales ratio of 72 and expected revenues under$100 million, shows growth potential. Its future hinges on becoming a leader in voice AI, though it faces risks from larger competitors as it expands.
Julia's notes
Review SOUN D W M chart, and then understand where the buyers and sellers.
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