These Were Last Week’s 10 Worst Performers

3. SoundHound AI Inc. (NASDAQ:SOUN)

SoundHound AI nosedived by 29.7 percent on Friday to $10.97 apiece from $15.6 registered on February 7, as investors took path from Nvidia Corp.’s reduced ownership positions in the company.

Last week, NVDA submitted a regulatory filing showing its stake positions in various firms. The filing showed a 44-percent reduction in its holdings in British chipmaker Arm Holdings while exiting Serve Robotics and SoundHound AI, Inc. (SOUN).

An analyst from Triple D Trading was quoted as saying that there is no stronger vote of confidence than NVDA investing in a company.

NVDA’s divestment in SoundHound AI, Inc. (SOUN) has raised investor concern over the future of its growth trajectory, particularly as it was once seen as a promising player in the AI industry.