SoundHound AI Stock Took a Hit. Is It Time to Buy the Artificial Intelligence Stock?
On the heels of an explosive rally, SoundHound AI (NASDAQ: SOUN) stock is seeing a big pullback. The audio-tech company reported its fourth-quarter earnings results after the market closed Thursday and posted sales and earnings that fell short of expectations for the period.
SoundHound recorded a loss per share of $0.07 on revenue of $17.15 million in Q4. Meanwhile, the average analyst estimate had called for the business to post a per-share loss of $0.06 on revenue of roughly $17.21 million. by the weekend, the company's stock had plummeted nearly 19% in the daily trading session.
With the stock rapidly losing ground, is it too late to invest in SoundHound AI? Or is the recent valuation decline a buying opportunity?
Source Fool.com
