SoundHound AI Stock Is Down 70% From Its 52-Week High. Time to Buy?
Yahoo Finance ·
SoundHound AI ( SOUN 2.44% ) stock spent the last year on a roller-coaster ride. Its rapidly rising revenue growth and high interest in agentic artificial intelligence (AI) took its stock to a peak of more than $21 per share last October. However, a high valuation, along with massive losses and shareholder dilution, prompted investors to sell the tech stock . Consequently, it is down almost 70% from that peak after giving back all the gains the stock made since late 2024. Is that enough to make SoundHound AI stock a buy again? Let's take a closer look. SoundHound AI has built a following with its AI technology that can perform tasks based on voice commands. It became popular with auto manufacturers, but businesses such as restaurants, consumer electronics companies, and tech giants also took an interest. Since going public in April 2022, SoundHound AI has been a volatile stock. It briefly fell below $1 per share soon after its IPO. Nonetheless, as more investors took notice of the client base and rapid revenue growth, they have bid the stock price above $20 per share twice since late 2024, only to suffer massive pullbacks.
DYAX Investor Sentiment
Bullish (Long) 52% · Bearish (Short) 48%
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