Wall Street Optimism Spills Over to These 10 Stocks on Friday

2. SoundHound AI Inc. (NASDAQ:SOUN)

SoundHound AI rallied by 17.48 percent on Friday to close at $10.82 apiece as investors cheered the company’s optimistic outlook for the year despite its dismal earnings performance last year.

In its earnings release, SOUN said it was raising its revenue outlook for the year to settle between $157 million and $177 million.

In the fourth quarter of 2024, SOUN saw its net loss widened by 1,333 percent to close at $259 million from $18 million in the same period a year earlier, as gross profit doubled to $34.5 million from $17 million.

In full-year 2024 alone, net loss increased by 294 percent to $350.68 million from $88.9 million despite revenues growing by 85 percent to $84.69 million from $45.87 million year-on-year.