SoundHound AI Stock Slides 10% After CFO Cashes In – Can the 240% AI Rally Survive?
Stock Slides After CFO’s Share Sale SoundHound AI stock sank on Friday after news of insider selling, undercutting some of the recent euphoria. The company’s Chief Financial Officer, Nitesh Sharan, disclosed he sold 60,376 SoundHound shares at an average ~$21.21 (a ~$1.28 million transaction) indexbox.io. The sale, executed under a pre-arranged 10b5-1 trading plan, reduced the CFO’s direct stake by about 3.3% indexbox.io. The market reacted swiftly: SOUN fell ~6.9% in morning trading on Oct. 17 following the disclosure, and by afternoon it was trading around $18.80, roughly 9–10% below the prior day’s close indexbox.io indexbox.io. The timing of Sharan’s sale