SoundHound AI shares are trading lower after the company filed for a mixed shelf of up to $400 million.
Portfolio Pulse from Benzinga Newsdesk
SoundHound AI has filed for a mixed shelf of up to $400 million, causing its shares to trade lower.
July 25, 2023 | 5:00 pm
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SoundHound AI's stock is trading lower after the company filed for a mixed shelf of up to $400 million.
The filing for a mixed shelf offering often leads to dilution of existing shares, which can cause a decrease in the stock price. This is likely the reason for the drop in SoundHound AI's stock price.
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