1 of Cathie Wood's Favorite AI Stocks Just Reported an Incredible Quarter. Time to Buy?
Cathie Wood and her Ark Investment funds are known for investing in cutting-edge technology companies. Across all of Ark's exchange-traded funds, the second-largest holding is UiPath (NYSE: PATH). With its current holdings, Ark owns nearly 10% of the company, and the stock makes up about 6% of Ark's total portfolio.
With such a massive investment in UiPath, Wood and her team clearly like what they see at the company. Should you follow their lead?
UiPath's primary products are focused on robotic process automation (RPA). Essentially, if there's a repetitive task, UiPath's products can record, learn, and automatically do that task for its users. At the end of the day, RPA makes employees more efficient because they aren't clicking on the same five buttons to run a report or fill out an expense form, for example.
Source Fool.com
