SoundHound AI Plunges After Nvidia Exits Its Stake. Should Investors Follow Suit?
Shares of SoundHound AI (NASDAQ: SOUN) plunged following a revelation that Nvidia (NASDAQ: NVDA) exited its investment in the voice artificial intelligence (AI) company. The stock is now down more than 40% on the year as of this writing; however, it is up more than 385% over the past year.SoundHound stock was pulled out of obscurity when it was revealed that the semiconductor giant purchased shares in the company in the fourth quarter of 2023. The stock immediately rocketed higher on the news, but it made its biggest move late in 2024, which appears to be when Nvidia was dumping its shares.Should investors hold onto SoundHound shares, or should they follow Nvidia and exit?Continue reading
Shares of SoundHound AI (NASDAQ: SOUN) plunged following a revelation that Nvidia (NASDAQ: NVDA) exited its investment in the voice artificial intelligence (AI) company. The stock is now down more than 40% on the year as of this writing; however, it is up more than 385% over the past year.
SoundHound stock was pulled out of obscurity when it was revealed that the semiconductor giant purchased shares in the company in the fourth quarter of 2023. The stock immediately rocketed higher on the news, but it made its biggest move late in 2024, which appears to be when Nvidia was dumping its shares.
Should investors hold onto SoundHound shares, or should they follow Nvidia and exit?
