Algorhythm Holdings Sells Karaoke Business to Stingray

Algorhythm Holdings ( (RIME) ) has issued an announcement.

On August 1, 2025, Algorhythm Holdings sold its Singing Machine karaoke business to Stingray Music USA, a subsidiary of Stingray Group, for $4.5 million. This transaction, which eliminated approximately $4 million in liabilities and reduced annual cash outflows by over 70%, allows Algorhythm to focus on its AI freight platform, SemiCab. The sale marks a strategic shift for Algorhythm, enabling it to concentrate resources on SemiCab’s growth, which has significantly increased its revenue run rate since January 2025.

The most recent analyst rating on (RIME) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on Algorhythm Holdings stock, see the RIME Stock Forecast page.

Spark’s Take on RIME Stock

According to Spark, TipRanks’ AI Analyst, RIME is a Neutral.

The overall stock score of 42 reflects significant financial challenges and valuation concerns for Algorhythm Holdings. While technical analysis and valuation metrics suggest caution, recent corporate events and earnings call highlights offer some optimism for future growth. However, the immediate risks associated with financial distress and operational challenges weigh heavily on the stock’s outlook.

To see Spark’s full report on RIME stock, click here.

More about Algorhythm Holdings

Algorhythm Holdings, Inc. is an AI technology and consumer electronics holding company with two primary business units: SemiCab and Singing Machine. SemiCab is a leader in the global logistics and distribution industry, offering an AI-enabled, cloud-based Collaborative Transportation Platform. Singing Machine is a worldwide leader in consumer karaoke products, offering a wide range of at-home and in-car karaoke entertainment products.

Average Trading Volume: 134,017

Technical Sentiment Signal: Sell

Current Market Cap: $6.49M

For an in-depth examination of RIME stock, go to TipRanks’ Overview page.