Auddia Inc (NASDAQ:AUUD) Stock Continues to Fall After The Recent Peak
Auddia Inc (NASDAQ:AUUD) has emerged as one of the more interesting companies at this point considering the sort of work it has done in developing artificial intelligence powered innovative tech and audio platform for podcasts. Earlier on in the week, the company announced the launch of a new product named Vodecast Hub.
The product is a digital content management platform that is meant specifically for podcasters. It is going to help podcasters with the creation of digital feeds that are going to be tailored with the audio content. It is another interest product from the company but the response from the market has not been particularly great.
The announcement with regards to this product was made by Auddia back on July 12 and yesterday the stock tanked by as much as 24%. That being said, it is perhaps important for investors to take a closer look at the product and the company’s plans before making their minds up about Auddia.
The Vodecast Hub platform is a part of the wider initiative from Auddia to come up with products that can help with monetization. The Vodecast Hub is the first of such initiatives and it might be a good idea for investors to perhaps keep an eye on the company.
Market Reaction:
On Wednesday, AUUD stock slumped 23.75% at $4.11 with more than 4.50 million shares, compared to its average volume of 3.09 million shares. The stock had moved within a range of $3.9900 – 5.4600 after opening the trade at $5.40. Over the past 52-week, the stock has been trading within a range of $2.2100 – 9.3000.
