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Down 47% From Its High, Is SoundHound AI Stock Now a Buy?

TheMotleyFool

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Down 47% From Its High, Is SoundHound AI Stock Now a Buy?: https://g.foolcdn.com/editorial/images/771244/team-of-traders-working-in-an-office.jpg

SoundHound AI (NASDAQ: SOUN) has been one of the hottest artificial intelligence (AI) stocks to own this year. Its stock price performance in 2024 has nearly doubled Nvidia's -- 154% versus 81%. Coincidentally, it was news that the chipmaker invested in SoundHound which led to the stock's surge in popularity earlier this year.

However, in recent weeks, SoundHound's stock has started to give back some of its impressive gains. And although it's still sitting on some strong returns for the year, it is now down more than 47% from its all-time high of $10.25.

Given this recent pullback, is now a good time to invest in SoundHound AI?

Source Fool.com

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