What's Going On With SoundHound AI Stock Friday?
Portfolio Pulse from Anusuya Lahiri
SoundHound AI, Inc. (NASDAQ:SOUN) stock is trading lower despite reporting strong Q2 results, raising guidance, and announcing the acquisition of Amelia. The company reported a 54% increase in revenue, beat EPS estimates, and expects significant revenue growth in 2024 and 2025. However, the stock is down 4.5% as of Friday.
August 09, 2024 | 3:22 pm
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SoundHound AI reported strong Q2 results with a 54% increase in revenue and an EPS beat. The company raised its 2024 and 2025 revenue guidance and announced the acquisition of Amelia. Despite these positive developments, the stock is trading lower by 4.5%.
Despite strong financial performance and positive future guidance, the stock is trading lower, possibly due to market reactions to the acquisition or other external factors. The long-term outlook remains positive given the raised guidance and strategic acquisition.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100