Nvidia Dumps SoundHound AI Stock: Should You Do the Same?
When SoundHound AI (NASDAQ: SOUN) first soared in popularity last year, it was because chipmaker Nvidia revealed that it owned more than 1.7 million shares of the up-and-coming tech company. Many investors followed suit, buying shares of SoundHound in the hopes that it would be the next big tech stock to benefit from the artificial intelligence (AI) boom. In February, however, Nvidia's latest filings showed that it no longer held a position in SoundHound. Many other investors have also been selling their stakes in the voice AI company. The stock now trades for less than $10 and since the start of the year, it lost more than half of its value.Should you also get out of this AI stock, or could this sell-off be a great buying opportunity?Continue reading
When SoundHound AI (NASDAQ: SOUN) first soared in popularity last year, it was because chipmaker Nvidia revealed that it owned more than 1.7 million shares of the up-and-coming tech company. Many investors followed suit, buying shares of SoundHound in the hopes that it would be the next big tech stock to benefit from the artificial intelligence (AI) boom.
In February, however, Nvidia's latest filings showed that it no longer held a position in SoundHound. Many other investors have also been selling their stakes in the voice AI company. The stock now trades for less than $10 and since the start of the year, it lost more than half of its value.
Should you also get out of this AI stock, or could this sell-off be a great buying opportunity?
