Auddia Inc. (AUUD) stock declined during after-hour session. Here’s what’s happening?

Auddia Inc. (NASDAQ: AUUD) stock plunged by 4.3% at last close while the AUUD stock price fell by 5.58% in the after-hours trading session. Auddia is reinventing how consumers engage with audio through the development of a proprietary AI platform for audio and innovative technologies for podcasts.

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Upcoming Event

Auddia has been asked to speak at the Access to Giving Virtual Investor Conference, which will take place online from July 13th to 15th, 2021. The conference will feature a presentation by Jeff Thramann, the creator and executive chairman of Auddia.

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With 50+ businesses presenting, a keynote, three separate panels, and one-on-one conversations, Access to Giving is a conference focused on investor education and activism.

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Recent Development

RadioAlabama will be the third radio station group on the Auddia platform, according to AUUD. RadioAlabama, located in Sylacauga, is the largest, extremely fast-growing, and most award-winning privately-owned radio company in the state’s east-central region, with ten terrestrial radio brands. With RadioAlabama’s participation, Auddia’s debut will reach roughly 500,000 radio listeners each month, making it the first time radio broadcasters will promote a subscription-based commercial-free premium listening experience.

Auddia has decided to test its artificial intelligence algorithms with RadioAlabama’s stations, and AUUD anticipates RadioAlabama to be operational on the platform early this quarter, based on the algorithms’ good success with Lakes Media stations.

AUUD reiterates its expectation to report on the initial level of customer interest in the subscription offering in late Q3 or early Q4.

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Lee Perryman, RadioAlabama’s President & CEO stated,

The Auddia platform provides AUUD with the potential to develop and increase its immersive listenership.  As the audiences discover and demand new ways to receive their content, the Auddia platform will help us greatly improve and distinguish their offering especially in contrast to subscription services to satisfy desires in quality local and regional programming, potentially expanding reach beyond our over-the-air coverage areas. Although radio still reaches 93% of Americans, they’ve been working hard to engage listeners on their preferred devices.

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