SoundHound AI, Inc Class A ( (SOUN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
SoundHound AI, Inc Class A shares have been on a rollercoaster ride recently. The stock experienced a surge in bullish option activity, with call trading volume reaching 1.8 times the normal level, driven by investor anticipation ahead of the upcoming earnings report on May 8th. However, the excitement was tempered by a legal cloud hanging over the company, as Cantor Fitzgerald lowered its price target from $10 to $8.50. This adjustment was prompted by a class action lawsuit concerning financial reporting issues, raising concerns about the company’s financial health and future growth.
More about SoundHound AI, Inc Class A
YTD Price Performance: -58.83%
Average Trading Volume: 44,933,330
Technical Sentiment Signal: Sell
Current Market Cap: $3.31B
For further insights into SOUN stock on TipRanks’ Stock Analysis page.
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