SoundHound AI Plummeted Today — Is Now the Time to Buy the Stock?

Given the market-shaping potential of Nvidia’s upcoming Q4 report on Wednesday and the arrival of SoundHound’s own Q4 report the next day, shares are seemingly poised for more big moves this week. With a market capitalization of roughly $3.7 billion, SoundHound AI is now trading at approximately 22.4 times this year’s expected sales. With its last quarterly report, SoundHound raised its full-year sales target for 2024 to between $82 million and $85 million.