The surge in SoundHound's stock is largely attributed to speculation and potential short squeezes, despite the company not being profitable yet.
SoundHound's Q3 results showed a remarkable 89% year-over-year revenue increase, exceeding expectations, which ignited market excitement around their significant growth potential.
While SoundHound boasts a massive addressable market with projected revenue growth, maintaining profitability alongside this rapid expansion could prove challenging.
The overall AI market rally and SoundHound's announcements, such as 'Hey KIA' voice AI in India, contributed significantly to its stock price surge.
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