Why SoundHound AI Stock Is Plummeting Today
Shares of SoundHound AI (NASDAQ: SOUN) are plunging on Friday. The voice artificial intelligence (AI) technology company's stock lost 14.5% as of 1:50 p.m. ET and was down as much as 18.7% earlier in the day. The steep decline comes as the S 500 and Nasdaq Composite both lost nearly 5%.
Already seeing pressure from President Donald Trump's tariffs, the company faces a class action lawsuit from investors alleging it made misleading statements about its accounting practices.
The law firm Kessler Topaz Meltzer Check filed a class action lawsuit on behalf of shareholders on Thursday claiming issues with the company's accounting practices. Specifically, the suit alleges that SoundHound failed to fully disclose the issues with its financial reporting.
Source Fool.com
