SoundHound AI Shares Plunge on Critical Short-Seller Report and Downgrade
• Shares in SoundHound AI plunged this week following a critical report from short-seller Capybara Research and a downgrade from Cantor Fitzgerald • Capybara alleged SoundHound's speech recognition tech is a “commodity service” and the company is “failing” • The report claims SoundHound faces stiff competition from Amazon, Google, Microsoft, and Apple • It also alleges SoundHound has no clear path to profitability after 18 years of losses • This comes after Nvidia disclosed a $3.67 million stake in SoundHound last month, which initially lifted shares