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SoundHound AI Stock Drops 11% Amid Broad Market Retreat
SoundHound AI Stock Drops 11% Amid Broad Market Retreat
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BTCCSquare news:
SoundHound AI (SOUN) shares plunged 11% on Tuesday, mirroring a sector-wide downturn triggered by inflationary signals in retail earnings. The voice-AI specialist, which trades at 41 times trailing sales despite lacking profitability, fell victim to its inherent volatility—its 2.8 beta coefficient amplifies market swings.
No company-specific news drove the selloff. Instead, investors retreated from growth stocks as tariff impacts surfaced in retail reports. SoundHound’s recent earnings beat failed to offset concerns about its billion-dollar contract backlog’s slow monetization timeline.
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