SoundHound AI Rallies Another 35%+ Intraday as Market Continues to Love Nvidia-Backed Firm
$SoundHound AI (SOUN.US)$ gained more than 35% intraday in very heavy trading volume as the artificial-intelligence company’s nearly 400% recent rally extended into yet another session.
SOUN rose as much as 37.5% to a $7.91 intraday peak, adding to the 46.7% it gained Monday and bringing the stock’s gain to 385% since it closed at $1.63 on Feb. 5.
Tuesday’s rally saw more than 211 million shares changing hands as of shortly before noon ET – some eight times more than the stock’s 23.2 million shares of average volume for an entire session.
SoundHound makes AI-powered voice-response systems that client companies can use for such things as customer service.
Tuesday’s run came despite no obvious new catalyst for the stock, although SoundHound has been rallying sharply market favorite $NVIDIA (NVDA.US)$ wrote in a recent securities filing that it had taken a $3.7 million stake in the company.
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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Chak : Never heard of this finally company , seems like we living in a AI bubble
with greedy institutional traders
73754762 : i got 40 shares at 2.11 never know how somethings going pop
MoreOfTheSame : It's a phone voice app. AI? whatever.
unassuming Leopard_3 : Its old a rinse and repeat stock unless this boom.is permanent. Got back in at 3.9
frank Crane_3546 Chak : I have been using it yo search for song titles for last 5years. Amazing accuracy!
WHKKK : Go go
70896743 Chak : I've seen it for several years now. Tho it was stuck in the 3 dollar range for sometime.
Joshua Beeler : wow is this a clown convention? im out of here yal should try doing some dd!
