The company's share price was down 14.4% at 11:15 a.m. ET amid a 0.1% decline for the S&P 500 index and a 0.3% pullback for the Nasdaq Composite index. The conversational artificial intelligence (AI) specialist's share price had been down as much as 17% earlier in the day's trading.

After a stock rises 800% in one year, most investors are skeptical that it can have another great year. I don't blame anyone for having this mindset, as it's difficult for a stock to continue rising at that pace for a sustainable time frame.

Shares of SoundHound AI (SOUN) surged around 836% in 2024. The voice artificial intelligence (AI) technology leader benefitted from rising demand for its offerings and significant growth opportunities across key verticals such as automotive,