Is It Too Late to Buy the SoundHound (SOUN) AI Stock After Its 50% Rally?
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It's a good question -- is it too late to buy shares of SoundHound (NASDAQ: SOUN) after it surged 50% over the past year? Well, I'll suggest that it very well may be -- because despite that 50% gain over the past 12 months, the stock is actually down 40% year to date. (These figures are as of Nov. 26.)Buying the stock is not a no-brainer move, though, because there are reasons to buy and reasons to refrain. The company began as a music-recognition specialist before pivoting a bit into the voice artificial intelligence (AI) market. Its technology is now found in cars, giving drivers the ability to use voice commands, and in restaurants, where it helps ensure customers' orders are more accurate, among other benefits.Here's why you might buy into SoundHound: It's growing rapidly. Its third quarter featured record revenue of $42 million, up 68% year over year, and management increased its projections.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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