What's Going On With SoundHound AI Stock Thursday?
Portfolio Pulse from Adam Eckert
SoundHound AI Inc (NASDAQ:SOUN) is in focus ahead of its Q4 earnings report, expected to post a loss of 6 cents per share with $17.746 million in revenue. The stock surged over 70% in the last five sessions and nearly 300% in the last month, partly due to speculation about AI in cellular tech and Nvidia's investments. Northland Capital Markets downgraded the stock from Outperform to Market Perform. Shares were up 9.46% at $6.94 at the time of writing.
February 29, 2024 | 3:16 pm
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SoundHound AI Inc is anticipated to report a Q4 loss with significant stock price movements ahead of earnings, influenced by AI sector momentum and Nvidia's investments.
SoundHound's stock surge is driven by anticipation of its earnings report, sector momentum, and Nvidia's investments. The downgrade by Northland Capital Markets suggests caution, but the overall AI sector's strength and Nvidia's backing provide positive signals.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100