SoundHound AI Stock Hits Day Low of $15.02 Amid Price Pressure
SoundHound AI, Inc. has faced notable stock declines, with an 8.12% drop today and an 11.24% decrease over the past week. Despite a strong annual return, the company reported a net loss of $43.91 million and negative cash flow, highlighting ongoing financial challenges.
SoundHound AI, Inc. has experienced a significant decline today, with the stock dropping by 8.12% as it reached an intraday low of USD 15.02. This performance stands in contrast to the S&P 500, which has only seen a decrease of 1.17% on the same day. Over the past week, SoundHound AI has faced a cumulative decline of 11.24%, while its monthly performance shows a decrease of 11.93%. Despite a remarkable annual return of 208.84%, the stock has struggled in the year-to-date performance, down 20.77%. The company, operating within the software products industry, has reported a net profit of -USD 43.91 million, reflecting a 42.31% decline. Additionally, the operating cash flow has reached its lowest point at -USD 112.12 million, and raw material costs have surged by 47.94% year-over-year.
With a market capitalization of USD 6,234 million, SoundHound AI's financial metrics indicate a challenging environment, characterized by negative EBITDA and a return on equity of -39.97%.
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