Voice tech developer SoundHound AI sees stock rally 56 … – Seeking Alpha
zimmytws/iStock via Getty Images
zimmytws/iStock via Getty Images
Voice tech developer SoundHound AI (NASDAQ:SOUN) stock shot up 56% in afternoon trading Friday during the last session of 2022.
SoundHound stock opened at $1.01, reaching a high of $1.93 in early afternoon. The stock recently changed hands at $1.61 at around 2:00 p.m. ET. The company went public in April via a SPAC merger.
Shares of SoundHound had been trending downward since mid-October. The stock hit a 52-week high of $18.14 on May 3 and a 52-week low of $0.93 on Dec. 22.
SoundHound markets a voice AI platform that allows customers to interact with products through speech. Key clients include Hyundai, Mercedes-Benz, Pandora, Deutsche Telekom, Snap, Vizio, Kia and Stellantis.
The company went public on April 28 through a merger with SPAC Archimedes that valued it at a pro forma enterprise value of around $2.1B.