SoundHound AI Stock Plunges 8% as Analyst Cites Valuation Concerns Ahead of Earnings
• SoundHound AI stock plummeted 8% on Wednesday after a Northland analyst published a cautious note on the company
• The analyst lowered his rating from outperform to market perform due to the stock's steep valuation surge recently
• The stock has surged over 240% in the last month on AI opportunities, Nvidia's stake disclosure, and other catalysts
• The analyst said investors should watch the rollout of SoundHound's technologies at restaurants and drive-thrus
• SoundHound is set to report Q4 results and host a call on Thursday, which could lead to more volatility