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SoundHound AI voice technology developer (NASDAQ: SUN) shares rose 56% in afternoon trading on Friday during the last session of 2022.
Shares of SoundHound opened up $1.01, reaching $1.93 in early afternoon trading. The stock recently changed hands at $1.61 around 2:00 PM ET. The company went public in April through a SPAC merger.
Shares of SoundHound have been trending down since mid-October. The stock hit a 52-week high of $18.14 on May 3 and a 52-week low of $0.93 on December 22.
SoundHound markets a voice artificial intelligence platform that allows customers to interact with products through speech. Key clients include Hyundai, Mercedes-Benz, Pandora, Deutsche Telekom, Snap, Vizio, Kia and Stellantis.
The company went public on April 28 through a merger with SPAC Archimedes that valued it at a proforma enterprise value of about $2.1 billion.
