SoundHound AI, Inc. (SOUN) is experiencing a notable rise in its stock price today, driven by recent developments and investor sentiment. A significant factor contributing to the positive movement is the announcement of a collaboration between Honda and Sony on the AFEELA 1 car, which will include SoundHound's conversational AI technology. This partnership extends SoundHound's previous collaboration with Honda, dating back to 2020, and has generated excitement among investors about the company's expanding presence in the automotive sector.
On Reddit, discussions reflect a mix of optimism and skepticism. One user highlighted the company's potential, stating, "SOUN is at the forefront of a new emerging sector," while another expressed skepticism about the stock's valuation, noting, "The catalyst for squeeze? I didn't see any mentioned other than hopium." Despite these mixed sentiments, the overall tone suggests that investors are hopeful about SoundHound's future prospects, particularly with its growing presence in various industries, including quick-service restaurants and automotive.
SoundHound AI's stock is currently trading at $14.20, up 11.01% from the previous close of $12.79, with a high of $14.40 and a low of $13.36 so far today. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 18,750,912 shares, representing 27.80% of its average daily volume of 67,447,406 shares, indicating active trading this morning.