SoundHound AI, Inc. (SOUN) is experiencing a decline in its stock price today, potentially influenced by comparisons to other companies in the same sector. On Reddit, discussions have highlighted the disparity between SoundHound's market cap and revenue compared to LivePerson (LPSN), with one user noting, "SoundHound SOUN revenue is 84 million and market cap is 8.3 billion," suggesting that SOUN might be overvalued. This sentiment could be contributing to the downward pressure on the stock as investors reassess its valuation.
Additionally, there is ongoing speculation about SoundHound's future prospects, with some Reddit users expressing optimism about the company's potential, especially with its upcoming collaboration with NVIDIA at CES 2025. However, others are cautious, with one user advising, "You might want to wait it seems like it's going to pull back possibly around $20 per share." This mixed sentiment reflects the uncertainty among retail investors regarding the stock's short-term trajectory.
SoundHound AI's stock is currently trading at $21.73, down 4.19% from the previous close of $22.68. Despite being just 15 minutes into the trading day, the stock has already seen a volume of 10,418,252 shares, which is 17.88% of its average daily volume of 58,283,552 shares, indicating active trading early in the session.