Is It Time to Roll With Nvidia and Invest in SoundHound AI?
SoundHound AI (NASDAQ: SOUN) has disappointed a lot of investors since it went public by merging with a special purpose acquisition company (SPAC) in April 2022. The audio and speech recognition software company's stock opened at $8.72 and soared to its all-time high of $14.98 less than a month later. But earlier this month, shares were trading at less than $2.
Its stock stumbled as revenue growth decelerated, losses stacked up, and rising interest rates compressed its valuation. Many investors dismissed it as another overvalued SPAC listing that quickly lost its luster as the hype died down.
Source Fool.com
