10 Firms Mirror Wall Street Decline

3. SoundHound AI Inc. (NASDAQ:SOUN)

Shares of SoundHound AI declined by 9.63 percent or $1.91 to finish Tuesday’s trading at $17.98 apiece even as the company unveiled its latest technology at the ongoing Consumer Electronics Show conference in Las Vegas.

SoundHound’s new technology allows people to conversationally order take-out food from participating restaurants directly through their car and pay for it.

According to analysts, traders also seem to be triggered by the stock moving back below $20, which can be considered a psychological lower-end price level. Since the start of the year, SoundHound’s shares have been moving on a downward trajectory.

SoundHound AI specializes in voice AI technology, enabling natural language understanding and voice recognition for a wide range of applications. Its solutions power voice assistants, smart devices, and enterprise platforms, allowing businesses to integrate conversational AI for customer interactions.