SOUN just broke above penny stock territory
SentinelOne Inc (NYSE:S) and SoundHound AI Inc (NYSE:SOUN) are this week's picks for Schaeffer's Cheap Seats: Stocks Under $20 segment. Below, let's explore what makes these two artificial intelligence (AI) names so interesting.
SentinelOne stock is up 0.6% to trade at $19.87 at last check, testing newfound support from the 20-day moving average. Shares recently bounced off a May 31, nine-month low of $16.83, and now sport a 32% year-over-year lead.
It's also worth noting the equity boasts attractively priced premiums. This is per its Schaeffer's Volatility Indexes (SVI) of 41% that ranks in the 4th percentile of annual readings.
SOUN is breaking out of penny stock territory, last seen up 21.5% to trade at $5.03. Today's pop came after the company announced its AI voice assistant with integrated ChatGPT is live and in production for Peugeot, Opel, and Vauxhall vehicles. The stock is up 138% so far in 2024, and set to close above the 80-day moving average for the first time since May.
An unwinding of pessimism could create additional tailwinds for SOUN. Short interest rose 4.6% over the last two reporting periods, and now makes up 24.1% of the equity's available float.