This Cathie Wood AI Stock Just Announced a $500 Million Share Buyback. Should You Buy, Too?
UiPath (NYSE: PATH) is undergoing a transformation. The now notable Cathie Wood AI stock (also an Alphabet investment) announced that co-CEO Robert Enslin, brought in to help co-founder and CEO Daniel Dines, will assume sole responsibility as the top executive at the company starting in January. The shake-up will send Dines to the role of chief innovation officer, heading up tech research and product development.
It seems the executive shuffle is already changing UiPath's decision-making. During its Q2 fiscal 2024 earnings update -- the three months ended in July -- UiPath announced a $500 million share buyback plan, a type of return of excess cash to shareholders.
With UiPath now indicating it sees its own stock as a good buy, is it time for investors to start buying again, too?
Source Fool.com
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