Why AI Stock UiPath Crushed the Market Today
One of the most active and influential stock pickers on the scene, Cathie Wood of exchange-traded fund (ETF) manager extraordinaire Ark Investment, clearly liked what she saw with UiPath (NYSE: PATH) this week.
On Thursday, Ark's after-hours trading digest revealed it purchased a total of 5 million shares of the artificial intelligence (AI) stock. This buy was spread across all of the firm's market-listed ETFs, a rare occurrence. Investors reacted by trading UiPath stock up by nearly 8% on the day, blowing past the S&P 500 index's 1.3% gain.
Wood and company were likely pouncing on a rare opportunity with UiPath.
Source Fool.com
