From Nasdaq:



The stock market is seeing an upturn in 2023, with the S&P 500 index up by 23% and the Nasdaq Composite gaining 52% so far. However, stocks like Toast and SoundHound have not been performing well, with Toast’s stock price trading sideways and SoundHound trading 72% lower than two years ago. Despite this downturn, the author sees potential in both companies and believes they are top-tier tech stocks with bright futures.

Toast offers a comprehensive restaurant management platform that includes a variety of services and tools to help food service managers run their businesses effectively. They have recently seen a 37% increase in revenue and potential for further growth as they continue to expand into larger chains and different markets.

SoundHound, known for its song-finding smartphone app, is leveraging its AI analysis to provide voice commands and a conversational AI experience. They have seen steady sales growth and their new voice recognition tool for the restaurant business, Employee Assist, is expected to make an impact in the industry.

The author views both companies as having blue-sky growth potential and believes they are undervalued, making them attractive investment opportunities. This assessment of the companies is not related to any promotional or marketing strategies, making it an objective analysis for day traders.



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