Why SoundHound AI Stock Is Getting Crushed This Week

SoundHound AI (NASDAQ: SOUN) stock is seeing dramatic sell-offs in this week's trading. The company's share price is down 27.2% from last Friday's market close, according to data from S&P Global Market Intelligence.The U.S. stock market is closed today in remembrance of President Jimmy Carter, but SoundHound AI stock has seen a big valuation pullback across this week's first three days of trading. The conversational artificial intelligence (AI) specialist's share price has suffered a big pullback in conjunction with macroeconomic risk factors and concerns about rising competition.On Tuesday, the Bureau of Labor Statistics (BLS) published its Job Openings and Labor Turnover Survey (JOLTS) data for November. The JOLTS survey showed that there were 8.1 million new job openings in the month, which came in ahead of the 7.7 million openings forecast by economists. Job openings had been expected to decline slightly from the 7.8 million figure reported by the survey for October, and the unexpected increase triggered concerns that economic activity is still coming in hotter than expected. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool