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Why SoundHound AI Stock Crashed on Thursday

TheMotleyFool

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Why SoundHound AI Stock Crashed on ThursdayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png

Shares of SoundHound AI (NASDAQ: SOUN) turned sharply lower Thursday, plunging as much as 13.6%. As of 3:13 p.m. ET, the stock was still down 11.4%.

The catalyst that drove the artificial intelligence (AI) specialist lower was a short report and a rare double downgrade by a Wall Street analyst.

A short report issued by Capybara Research titled "Lies, Damned Lies, and Cheeseburger 'AI'" suggests that SoundHound AI is a "failing company peddling lies and deception." It also set a price target of $1.

Source Fool.com

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