BrightHope
Oct 12, 11:39 PM
$SOUN
No, there is no corporate announcement or indication that a reverse stock split is going to happen for SoundHound AI (
$SOUN).
Companies typically implement a reverse stock split for one primary reason: to artificially boost a tanking share price to avoid being delisted from major exchanges like the Nasdaq (which requires stocks to maintain a minimum price of
$1.00).
(Note: If you saw recent headlines about a reverse split related to SoundHound, you may have seen the Defiance Daily Target 2X Long SOUN ETF (
$SOUX). That leveraged exchange-traded fund executed a 1-for-4 reverse split, but that action applies strictly to that specific tracking fund, not to
$SOUN stock itself.)
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