While the Federal Reserve made waves yesterday for finally cutting the benchmark interest rate by 25 basis points, many experts are worried about potential stagflation risks. However, the technology ecosystem has apparently not received the memo, with individual players like SoundHound AI Inc (NASDAQ:SOUN) posting strong performances recently. Even better, compelling evidence exists that suggests SOUN stock could march higher.
To be sure, it's reasonable to believe that most of the optimism has already been baked in. Therefore, betting on SOUN stock now might risk a painful bag-holding experience. For example, on Thursday afternoon, SOUN gained roughly 6%. This sizable jump brought the security's trailing five-day return to nearly 11%. Compounding matters is that in the trailing half-year period, SOUN swung up around 67%.
