Is SoundHound AI Stock a Buy?
SoundHound AI (NASDAQ: SOUN) went through some wild swings after it went public by merging with a special purpose acquisition company (SPAC) on April 28, 2022. Its stock opened at $8.72, closed at a record high of $24.23 on Dec. 26, 2024, but now trades at about $12.
The developer of AI-powered speech and audio recognition tools initially impressed investors with its explosive revenue growth, but its luster faded as rising interest rates compressed its valuations. Nvidia (NASDAQ: NVDA), which owned a minor stake in SoundHound, even liquidated its entire stake earlier this year. So is this volatile AI stock still worth buying?
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Source Fool.com
