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Barchart
Barchart
Sushree Mohanty

Up 176% YTD, How Much Higher Can This Penny Stock Rise?

SoundHound SOUN SoundHound AI Nvidia

Penny stocks receive relatively little attention, even though some of them have strong fundamentals and the potential to be extremely profitable. This year, the artificial intelligence (AI) wave boosted nearly every industry. However, one pure-play AI company, SoundHound AI (SOUN), has been overlooked, primarily because it is a penny stock.

However, this name has finally gained some attention after semiconductor market leader Nvidia (NVDA) disclosed a $3.7 million investment in SOUN via its 13F filing. Though Nvidia did not disclose the reason for the investment, the chip giant's involvement in SoundHound sparked investors' interest.

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