Why SoundHound Stock Plummeted Today
Shares of SoundHound AI (NASDAQ: SOUN) tumbled Monday. The stock lost 11.2% as of 4:30 p.m. ET, but was down as much as 12.9% earlier in the day. The slip comes as the S 500 and Nasdaq composite lost 1.5% and 3.1%, respectively.
SoundHound's stock has struggled since its presentation at CES 2025, down nearly 30% since the event kicked off in early January. Today was especially rough, however, as the market digested news of the disruptive Chinese artificial intelligence (AI) entry, DeepSeek.
CES is a big event in the world of tech and investors pay close attention to what comes out of it. The company's presentation was much anticipated, but unfortunately the demo of its in-car voice "commerce" platform disappointed. The platform appeared to provide marginal value while increasing costs and power consumption. Some investors were understandably underwhelmed. Since the event, SoundHound's stock has struggled.
Source Fool.com
