While there wasn't any major negative news directly from SoundHound AI itself a day ago (March 22nd, 2024), there are some ongoing concerns that could be affecting the stock price. Here's what you might be thinking of:
Profitability: SoundHound AI is a growth company, meaning they're focused on expanding their market share and technology. This often comes at the expense of short-term profits. An analyst recently pointed out that their earnings forecast is negative [investing.com].
Market Conditions: The broader market, especially for unprofitable tech stocks, has been slumping since late June 2023. This could explain the recent price dips without any specific company news [fool.com].
As for the future impact:
The negative earnings forecast could be a concern for investors looking for a quick return.
The broader market conditions are hard to predict, but they could continue to affect SoundHound AI's stock price.
IMHO - Take profit and sell now!
SoundHound AI Stock Continues to Sink 8% Premarket After a 15% Decline on Thursday
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