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AICoin AI: SoundHound Plunge Highlights Tech Sector Vulnerability
AICoin AI: SoundHound Plunge Highlights Tech Sector Vulnerability
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AICoin AI News - SoundHound AI shares tumbled 10.5% in Tuesday's trading, significantly underperforming broader market indices. The conversational AI specialist's decline follows bearish sentiment triggered by Home Depot's announcement of impending price hikes—a MOVE interpreted as a potential inflation warning signal for consumer markets. Investors are reassessing growth-dependent tech valuations as macroeconomic concerns intensify. SoundHound now trades at approximately 30x forward earnings despite lacking profitability, raising questions about its risk-reward profile in a potentially tightening economic environment.
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