SoundHound stock is down 10% on Wednesday: here’s why

Shares of SoundHound AI Inc (NASDAQ: SOUN) are down 10% this morning after the speech recognition company announced an “Equity Distribution Agreement”. How many shares will SoundHound sell? The $1.50 billion company based out of Santa Clara, California says it will sell up to 150 million shares through “Managers” including Citigroup and Barclays Capital.   […]