SoundHound AI, Inc. is experiencing a significant drop in its stock price today, driven by a combination of factors. A major contributor to the decline is the broader market sentiment, which has been negatively impacted by recent comments from Nvidia's CEO regarding the timeline for quantum computing advancements. These remarks have led to a sell-off in AI-related stocks, including SoundHound, as investors reassess their positions in the tech sector. Additionally, the company's recent performance at CES 2025 did not meet the high expectations of some retail investors, further exacerbating the downward pressure on the stock.
On Reddit, discussions highlight a mix of disappointment and long-term optimism among investors. One user noted, "The market impact by the increase of the yield for treasury bonds and the CES disappointment for some people triggered a sell-off." Another user expressed confidence in the company's future, stating, "Ordering food from the car is just the tip of the iceberg; project your minds beyond that, the applications are enormous." Despite the current downturn, some investors remain hopeful about SoundHound's potential, citing its partnerships and technological advancements as reasons for optimism.
SoundHound AI's stock is currently trading at $14.93, down 16.94% from the previous close of $17.98. The stock opened at $16.55 and has seen a low of $14.54 and a high of $17.10 so far today. Despite being just 30 minutes into the trading day, the stock has already seen an extraordinary volume of 85,668,682 shares traded, representing 131.18% of its average daily volume of 65,305,543 shares, indicating unusually intense trading activity this morning.