We recently published a list of 10 Tech, Energy Stocks Are Wednesday’s Worst Performers. In this article, we are going to take a look at where SoundHound AI, Inc. (NASDAQ:SOUN) stands against other tech, energy stocks are Wednesday's worst performers.

Ten technology and energy companies suffered a bloodbath on Wednesday, primarily due to profit-taking following the previous day’s gains and bearish comments surrounding the progress of quantum computing development.

In this article, we will look at the performance of some of the worst-performing companies and explore the factors behind their decline.

We considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume to come up with Wednesday’s top losers.

A software engineer focused on a computer screen, writing code to create a conversational assistant.

SoundHound AI, Inc. (NASDAQ:SOUN)

SoundHound AI, Inc. (NASDAQ:SOUN) saw its share prices down by 16.44 percent on Wednesday—a third day—to end at $15.02 each.

According to analysts, investors may have expected SoundHound (NASDAQ:SOUN) to announce more at this year’s CES trade show. The company at the CES show unveiled its latest technology, which allows people to conversationally order take-out food from participating restaurants directly through their car and pay for it.

According to analysts, traders continued to be triggered by the stock moving back below $20, which can be considered a psychological lower-end price level. Since the start of the year, SoundHound’s (NASDAQ:SOUN) shares have been moving on a downward trajectory.

SoundHound AI (NASDAQ:SOUN) specializes in voice AI technology, enabling natural language understanding and voice recognition for a wide range of applications. Its solutions power voice assistants, smart devices, and enterprise platforms, allowing businesses to integrate conversational AI for customer interactions.

Overall, SOUN ranks 3rd on our list of tech, energy stocks are Wednesday's worst performers. While we acknowledge the potential of SOUN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SOUN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.