10 Hottest Stocks: What’s Fueling Their Rise

4. SoundHound AI Inc. (SOUN)

SoundHound AI continued to be in the stock market spotlight, recording an impressive 19.71-percent increase in Thursday’s trading to finish at $24.33 each.

The year-to-date stock price also marked a whopping 1,064 percent rally, indicating a very positive reception from investors.

According to analysts, the company’s performance was fueled by the booming AI industry, which allowed for a more bullish coverage.

On Monday, SoundHound AI earned a buy rating and a higher target price from HC Wainwright from $8 per share to $26 apiece.

While Wainwright’s analysts noted that recent valuation gains were primarily driven by market excitement, they believed that the company will perform well enough to support its growth-dependent valuation.