SoundHound AI (SOUN) Stock Increases Over 65%: Details You Should Know

By Amit Chowdhry ● May 2, 2022
  • The stock price of SoundHound AI Inc (NASDAQ: SOUN) increased by over 65% during intraday trading today. These are some details you should know.

The stock price of SoundHound AI Inc (NASDAQ: SOUN) increased by over 65% during intraday trading today. SoundHound AI is a company that went public last week through a merger with a special purpose acquisition company called Archimedes Tech.

As part of the deal to go public, SoundHound has also received $113 million in proceeds from a private investment in public equity (PIPE) by Archimedes. Some of SoundHound’s investors also cinldue Oracle, Tencent, Hyundai, Daimler, and Samsung. And the company’s customers also include Pandora, Hyundai, Netflix, Qualcomm, Snap, Mastercard, and Honda.

InvestorPlace pointed out that investors are interested in seeing whether the company’s stock redemptions are high. Stocks that have high redemption levels have been volatile with wild swings up and down. Last week, SoundHound AI saw a noticeable stock price drop after going public.

SoundHound AI is a company that builds custom voice assistants for companies, which is built on the foundation of proprietary Speech-to-Meaning and Deep Meaning Understanding technologies. And the company’s advanced voice AI platform provides conversational intelligence unmatched by others in the industry.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.