Prediction: This Little-Known Artificial Intelligence (AI) Stock Could Go Parabolic in 2024
When it comes to artificial intelligence (AI), the so-called "Magnificent Seven" stocks garner the lion's share of attention. But looking beyond megacap players, investors can find several budding operations making inroads in AI.
One such company is voice-recognition software developer SoundHound AI (NASDAQ: SOUN), which joined the public markets via a special purpose acquisition company (SPAC) in 2022. Like many of its SPAC predecessors, the stock quickly witnessed some pronounced buying activity, only to crater shortly thereafter.
As of the time of this writing, SoundHound AI stock trades for roughly $2 per share and is down 85% from its high. While this depressed price might not generate much confidence or investor enthusiasm, buying the dip could be a lucrative opportunity. Let's dig into some of my predictions for 2024, and why I view SoundHound AI as a potential beneficiary.
Source Fool.com
