SoundHound AI Stock Drops 12% After Delayed 10-K Filing; 75 Million Shares Traded, Nearing 52-Week Lows

SoundHound AI, a voice AI company, is facing challenges following a delay in its 10-K filing, which has led to a significant decline in its stock price. Shares of SoundHound (ticker: $SOUN) dropped 12% as 75 million shares traded, compared to an average of 36 million. The stock is now nearing its 52-week lows. The delay is attributed to ongoing acquisitions, raising concerns about the company's ability to maintain momentum in the AI sector. CEO and Co-Founder Keyvan Mohajer recently discussed the company's fourth-quarter earnings and competitive advantages during an appearance on Schwab Network's The Watch List, where he highlighted strong revenue growth in Q4 prior to the filing delay.