24/7 Market News Snapshot 12 May, 2025 – SoundHound AI, Inc. Class A Common Stock (NASDAQ:SOUN)

May 12, 2025

DENVER, Colo., 12 May, 2025 (www.247marketnews.com) – (NASDAQ:SOUN) are discussed in this article.
SoundHound AI, Inc. (SOUN) has experienced a notable increase in its stock price, currently trading at $10.548, reflecting a substantial rise of 17.46% from the prior day’s close of $8.980. This upward momentum has been underscored by a robust trading volume of 56.34 million shares, indicating strong interest in the market. The stock opened at $9.535, further exemplifying the confidence that buyers have at the start of the session. Technical analysis suggests that maintaining this upward trend and surpassing key resistance levels could facilitate further gains for SOUN. However, market participants are advised to remain prudent and watch for possible pullbacks, utilizing support levels for strategic entry.

In light of recent developments, the Law Offices of Frank R. Cruz have initiated a class action lawsuit against SoundHound AI, Inc., targeting allegations of securities fraud linked to the company’s financial disclosures. This lawsuit invites investors who have incurred losses exceeding $50,000 from investments in SoundHound, particularly between May 10, 2024, and March 3, 2025, to participate. The action highlights claims that the company failed to disclose significant weaknesses in its internal controls surrounding financial reporting, which adversely affected its ability to accurately manage corporate acquisitions.

The allegations suggest that misleading statements regarding financial health and operational prospects have contributed to considerable difficulties for investors. Affected shareholders are strongly encouraged to assess their rights and consider participation in the lawsuit, with the deadline set for May 27, 2025. Legal representation can be sought at any time, and investors are urged to stay informed about this evolving situation as they deliberate their investment strategies concerning SoundHound AI, Inc.

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