Posted 3/23/2024, 4:47:05 PM
SoundHound Stock Surges on AI Hype Despite Weak Fundamentals
- AI stock hype is reaching a fever pitch, with companies name-dropping AI to impress investors
- SoundHound AI (SOUN) stock has surged 250% on AI hype despite weak fundamentals
- SoundHound has disappointing financials, high competition, and excessive valuation
- It shows signs of being a "pump and dump" scheme promoted on Reddit's WallStreetBets
- Rather than chasing AI hype, investors should focus on strong fundamentals when evaluating AI stocks