What's Going On With SoundHound AI Stock?

SoundHound AI Inc SOUN shares are trading lower by 3.43% to $19.04 Tuesday afternoon, pulling back from a 30% rally over the past week and a 200% rally over the trailing month following several company announcements.

What To Know: SoundHound specializes in advanced conversational AI powered by natural language processing and large language models.

These technologies enable businesses to deploy voice and text-based AI solutions for improving customer experiences and operational efficiencies across industries, including healthcare and quick-service restaurants.

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The recent rally was driven by the recognition of SoundHound's Amelia Conversational AI Platform as a leader in Frost & Sullivan's 2024 Frost Radar for Enterprise Conversational AI in Healthcare. The report praised the company's innovative use of NLP to improve patient engagement and streamline administrative processes.

Analysts also pointed to SoundHound's acquisition of Amelia as a strategic move, bolstering its position in a healthcare AI market projected to reach $2.34 billion by 2027.

Additionally, SoundHound announced a partnership with Church's Texas Chicken to implement its voice AI technology in drive-thru operations. The collaboration is expected to enhance speed and efficiency in customer service.

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How To Buy SOUN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in SoundHound AI’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, SOUN has a 52-week high of $19.97 and a 52-week low of $1.62.