Why SoundHound AI Is Skyrocketing Today
Shares of SoundHound AI (NASDAQ: SOUN) were flying higher on Tuesday. The stock had gained 11.3% as of 2:40 p.m. ET, but had been up as much as 12.5% earlier in the day. The leg up comes as the S 500 gained 0.7% and the Nasdaq Composite gained 1.3%.
SoundHound, which develops voice-based artificial intelligence (AI) technology, saw its shares recover after yesterday's tariff activity seemed mostly resolved.
Stocks across the market including SoundHound were hit Monday as investors believed the U.S. might be at the beginning of a trade war. Although President Donald Trump's tariffs on China remain in place, those meant for Canada and Mexico were paused on Monday. SoundHound stock started recovering after news broke that deals had been reached with Mexico and Canada.
Source Fool.com
