SoundHound AI Inc (NASDAQ:SOUN) shares are trading higher by 4.1% to $17.63 Monday morning. The stock rose some 23.7% on Friday following several notable announcements from the company regarding conversational AI.
What Happened: The company's Amelia Conversational AI Platform was named a leader in Frost & Sullivan's 2024 Frost Radar for Enterprise Conversational AI in Healthcare.
The report highlighted SoundHound's innovative use of natural language processing and large language models to enhance healthcare operations, such as patient engagement and administrative workflows.
Analysts praised the company's innovation pipeline and strategic focus, noting its recent acquisition of Amelia as a key driver for expanded opportunities in healthcare. The enterprise conversational AI market in healthcare is projected to reach $2.34 billion by 2027, growing at 17.2% annually.
In addition, SoundHound partnered with Church's Texas Chicken to deploy voice AI technology for drive-thru orders, streamlining operations and reducing wait times.
"Integrating our technology into Church's Texas Chicken restaurants marks a significant milestone in drive-thru innovation," said James Hom, Chief Product Officer at SoundHound AI.
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How To Buy SOUN Stock
By now you're likely curious about how to participate in the market for SoundHound AI – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of SoundHound AI, which is trading at $16.91 as of publishing time, $100 would buy you 5.91 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
According to data from Benzinga Pro, SOUN has a 52-week high of $17.29 and a 52-week low of $1.62.
