SoundHound AI Rallies Some 15%, Continuing Recent Rebound Ahead of Thursday Earnings
$SoundHound AI(SOUN.US$ rose more than 15% Monday as the Nvidia-backed AI firm rebounded from some near-term weakness ahead of earnings later this week.
SOUN rose 15.8% to $5.21 despite no apparent news, although the company previously announced plans to release quarterly earnings after the bell on Thursday.
SOUN also continues to recover from recent weakness that saw the stock hit a one-month intraday low of $3.50 on April 22.
SoundHound had been rallying strongly earlier this year, gaining more than 520% between its Feb. 7 intraday low and its March 14 intraday high after $NVIDIA(NVDA.US$ revealed in a securities filing that it had an investment in the firm.
SOUN is developing AI-powered voice-based customer-service programs for businesses.
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