How UiPath Stock Gained 27% Last Month (and Another 27% 1 Day Later)
Shares of robotic process automation expert UiPath (NYSE: PATH) rose 27.2% in November 2023, according to data from S&P Global Market Intelligence. The month also ended with a bang and UiPath's stock posted another 26.7% gain on Dec. 1. Including that extra day with the November tally, UiPath's shares gained 61.2% in 31 days.
The proper November gains were honestly not terribly exciting. UiPath's stock generally rose alongside other artificial intelligence (AI) experts until the last week of the month, buoyed by improving economic news and refreshed chatter around the AI opportunity.
Machine learning hardware leader Nvidia posted stellar business results on Nov. 21 but UiPath's stock barely moved the next day -- and Nvidia's share price fell due to modest guidance and profit-taking investors. These counterintuitive market moves are expected when an entire industry is soaring on the wings of new technology whose long-term market impact remains to be seen. There's a healthy mix of speculative traders and long-term investors out there. The eternal tug-of-war between these investing philosophies creates and destroys shareholder value in the stock market. Without it, stock owners might as well watch paint dry.
Source Fool.com
