What's Going On With SoundHound AI Stock?
Portfolio Pulse from Erica Kollmann
Shares of SoundHound AI, Inc. (NASDAQ:SOUN) are trading higher by nearly 20% on Monday despite no company-specific news. The stock has seen above-average trading volume with over 31.4 million shares traded, compared to its 100-day average of 17.7 million shares. The company has attracted the attention of both retail investors and short-sellers, with 13.1% of available SOUN shares being sold short.
August 14, 2023 | 5:01 pm
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SoundHound AI's stock is up nearly 20% despite no specific company news. The stock is seeing high trading volume and has attracted attention from retail investors and short-sellers.
The increase in SoundHound AI's stock price and trading volume indicates a high level of interest from investors. The fact that 13.1% of available shares are being sold short suggests that some investors are betting on the stock's price to fall, which could lead to increased volatility in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100