Why SoundHound AI Stock Is Plummeting Today
SoundHound AI (NASDAQ: SOUN) stock is seeing big sell-offs in Tuesday's trading. The conversational artificial intelligence (AI) company's share price was down 8% as of 11:45 a.m. ET and had been down as much as 11% earlier in the session. Meanwhile, the S 500 index was down 0.5%, and the Nasdaq Composite index was down 1.2%.
SoundHound AI is losing ground today in conjunction with an uptick in selling pressures for the broader market. In addition to the bearish trading backdrop, the company's stock is seeing sell-offs due to elevated investor expectations about potential news from the Consumer Electronics Show (CES) trade show.
Nvidia CEO Jensen Huang kicked off this year's CES trade show with a keynote address last night, and some SoundHound AI investors were hoping the tech leader would mention the conversational AI specialist in his speech. Nvidia has an investment in SoundHound, and even seemingly unrelated news for the AI leader is sometimes enough to power substantial moves for the smaller company's stock. Unfortunately, Huang's keynote address came and went without a mention of SoundHound.
Source Fool.com
