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June 6, 2022, 1:49 p.m. EDT

SoundHound AI Shares Drop 40%

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By Chris Wack

SoundHound AI Inc. shares were down 40% at $4.82 on a day with no apparent news or releases from the company.

The company's stock hit its 52-week low of $4.34 on May 20, and its 52-week high of $18.14 on May 3.

On May 17, SoundHound AI said it signed a seven-year deal with Hyundai, putting the company's music recognition software and voice commerce solutions in a large variety of car models.

SoundHound AI shares began trading on Nasdaq in late April, after merging with a special purpose acquisition company.

Write to Chris Wack at chris.wack@wsj.com

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