These Stocks Are Soaring: Soundhound AI, SMCI, And Cleanspark

2024-11-26 12:28:40

(MENAFN- Baystreet) Last week, shares of SoundHound AI (SOUN) gained 33.3%. The AI stock, which attracted bears to hold a 24.85% short float, did not report anything new.

On November 12, 204, the company posted a Q3 non-GAAP EPS loss of $0.04. Revenue grew by 88.6% Y/Y to $25.09 million. For 2024, Soundhound expects revenue of up to $85 million. This increases to a range of $155 million to $175 million in 2025. The revenue jump is due to an acquisition. It announced the acquisition of Amelia in August.

Buyers defended the Super Micro Computers (SMCI) shares at $17.25. When the stock found more buyers at $20, SMCI's announcement of hiring an auditor sent the stock up by 78.42% last week. The company is still a pure speculation until it files its quarterly and annual reports. Still, even after Nasdaq issued a non-compliance letter on November 20, it did not scare traders.

CleanSpark (CLSK) found support at around $10 before rallying above $15 last week. Bears hold a substantial 22.21% short float on the bitcoin (BTC-USD) miner. After BTC prices traded close to $100,000, CLSK stock rose with it.

CleanSpark is an attractive long-term holding since the firm has a hash rate expansion of over 220%.

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