Why SoundHound AI Stock Skyrocketed Again This Week
After rocketing more than 40% at its high this week, SoundHound AI (NASDAQ: SOUN) stock gave back much of those gains. But shares were still higher by about 10.3% for the week, as of late Thursday, according to data provided by S&P Global Market Intelligence.
The week is capping off a massive run for shares of the maker of conversational artificial intelligence (AI) technology solutions over the last month. The stock has more than tripled in that time, bringing year-to-date returns to 780%.
The big catalyst that drove SoundHound shares higher this week was a very bullish report from a widely followed Wall Street tech analyst. Wedbush's Dan Ives thinks investors should be buyers of SoundHound and raised his price target from $10 to $22 per share this week, according to reports.
Source Fool.com
