SoundHound AI (SOUN) stock jumped after the voice-based artificial-intelligence company beat expectations in what CEO Keyvan Mohajer called its “strongest ever quarter.”
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SoundHound shares were down 6.9% at $7.04 in premarket trading. The company, which makes voice-technology software powered by AI, beat Wall Street’s targets for the third quarter and raised its outlook. But that wasn’t enough to keep its recent steep rally going.
Shares of SoundHound AI dropped 21.4% in Thursday’s after-hours trading, following the artificial intelligence (AI)-powered voice solutions provider’s release of its fourth-quarter 2023 report.
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