What's Happening with SoundHound AI Stock?

SoundHound AI Inc (NASDAQ: SOUN) shares experienced a rise of 4.1%, reaching $17.63 on Monday morning. This follows a significant increase of approximately 23.7% on Friday, driven by several important announcements regarding the company's advancements in conversational AI.

Key Developments: One major highlight was the recognition of the company’s Amelia Conversational AI Platform, which was named a leader in Frost & Sullivan’s 2024 Frost Radar for Enterprise Conversational AI specifically in the healthcare sector.

The report emphasized SoundHound’s innovative application of natural language processing and large language models, aimed at improving healthcare operations. These innovations are particularly focused on enhancing patient engagement and streamlining administrative workflows.

Analysts have commended the company’s innovation strategy and highlighted its recent acquisition of Amelia as a crucial factor in broadening its opportunities within healthcare. The enterprise conversational AI market in healthcare is projected to grow significantly, reaching an estimated $2.34 billion by 2027, with an annual growth rate of 17.2%.

Furthermore, SoundHound has formed a partnership with Church's Texas Chicken, implementing voice AI technology for drive-thru orders. This initiative aims to streamline restaurant operations and reduce customer wait times.

James Hom, Chief Product Officer at SoundHound AI, commented on this collaboration, stating, "Integrating our technology into Church's Texas Chicken restaurants marks a significant milestone in drive-thru innovation."

Investing in SOUN Stock

If you’re interested in investing in SoundHound AI, purchasing shares can be done through a brokerage account. Many brokerage platforms offer the option to buy 'fractional shares’ – allowing you to invest in portions of a stock rather than needing to buy a full share. For instance, with SoundHound AI currently trading at about $17.63, an investment of $100 would secure you approximately 5.67 shares of stock.

Alternatively, if you are considering short selling the stock, this involves a more complex process. You would require access to an options trading platform, or a broker that can facilitate ‘shorting’ a stock. This typically means borrowing shares to sell them with the intention of purchasing them back later at a lower price. If options trading is available through your broker, you can buy put options or sell call options at a higher strike price than the current market price to gain profits from a stock price decline.

According to Benzinga Pro, the stock hit a 52-week high of $17.29 and a low of $1.62.

SoundHound, Stock, AI