Posted 3/14/2024, 10:01:19 PM
SoundHound Stock Falls on Analyst Caution, Macro Worries
- SoundHound AI (SOUN) stock fell 3.2% today due to negative analyst comments and higher-than-expected inflation data
- Analysts from Navellier suggested the stock valuation was overly stretched and could be a "pump and dump"
- SoundHound is currently unprofitable and trades at a high valuation of 37x expected sales
- The stock remains volatile and risky despite strong revenue growth potential
- Investors should approach cautiously given downside risks from growth speculation and macroeconomic factors