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<p class="has-drop-cap">SoundHound AI Inc. (NASDAQ: SOUN), a <a href="https://tokenist.com/soundhound-inc-s-shares-surges-after-nvidias-stake-revealed/" rel="noopener noreferrer nofollow" class="deco-link">prominent player</a> in the voice-enabled AI and conversational intelligence technology sector, has recently been in the spotlight due to <a aria-label="significant insider selling activities (opens in a new tab)" href="https://www.secform4.com/insider-trading/1840856.htm" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">significant insider selling activities</a> and stock price volatility.</p>
<p>The company’s top executives, including the CEO, COO, and VP of Engineering, have sold many shares, raising questions about their confidence in the firm’s prospects. This insider selling coincides with a noticeable downturn in SoundHound AI stock price.</p>
<h3 id="insider-selling-at-soundhound-ai-inc">Insider Selling at SoundHound AI Inc.</h3>
<p>In a series of transactions on March 19, 2024, critical insiders at SoundHound AI Inc., a leader in voice-enabled AI and conversational intelligence technologies, <a href="https://tokenist.com/investing/what-is-insider-trading/" rel="noopener noreferrer nofollow" class="deco-link">sold</a> their shares. <br><br>Michael Zagorsek, the Chief Operating Officer, disposed of 24,105 shares at an average price of $8.37, resulting in a total sale value of approximately $201,718.85. Meanwhile, Keyvan Mohajer, the company’s CEO and 10% owner sold 48,837 shares at the same price point, amassing about $408,837.79 from the transaction.</p>
<p>Further sales underscored the trend, with Majid Emami, Vice President of Engineering, selling 17,041 shares at an average price of $8.3656, which netted approximately $142,558. This sale was particularly noted to satisfy tax withholding obligations related to vesting shares from restricted stock units granted to Emami. Additionally, Eric R. Ball, a company director, liquidated 90,000 shares at an average price of $5.94, collecting around $534,810.</p>
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<h3 id="soundhound-ai-inc-continues-downturn-in-premarket-trading-friday">SoundHound AI Inc. Continues Downturn in Premarket Trading Friday</h3>
<p>SoundHound AI Inc. witnessed notable volatility in its stock price in recent trading, underscoring the fluctuating investor sentiment surrounding the voice-enabled <a href="https://tokenist.com/amd-vs-nvidia-in-2024-which-ai-stock-makes-more-sense-for-your-portfolio/" rel="noopener noreferrer nofollow" class="deco-link">AI</a> and conversational intelligence technology firm. <br><br>The stock closed at $6.68 on Thursday, experiencing a sharp decline of $1.25, or -15.76%. This downturn continued in pre-market trading, where it was already down by $0.64, or -9.58%, at the time of writing.</p>
<p>The movement marked a significant shift from its previous close of $7.93, despite opening slightly higher at $8.00, only fluctuating between $6.65 and $8.42 throughout the trading day. This trading pattern reflects the broader challenges and investor perceptions facing the tech company in a highly competitive market.</p>
<p>The company’s stock performance over the last year has been equally tumultuous, with a 52-week range between $1.49 and $10.25. This illustrates the high volatility and potential risk associated with SoundHound AI’s shares. On the most recent insider transactions date, SoundHound AI Inc.’s market capitalization stood at approximately $2.066 billion.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you think SoundHound AI has a good long-term potential? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/soundhound-ai-inc-s-executives-cash-out-as-stock-continues-to-slide/">SoundHound AI Inc.’s Executives Cash Out as Stock Continues to Slide</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

SoundHound AI Inc.’s Executives Cash Out as Stock Continues to Slide

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