Why UiPath Slumped 16.8% in September

Shares of UiPath (NYSE: PATH) fell 16.8% in September, according to data from S&P Global Market Intelligence. The business process automation software company just hit the public markets back in April.

However, as a high-growth software company, UiPath also sports a high valuation. So while the company reported strong quarterly results at the beginning of the month, they weren't enough to induce investors to bid the stock up. Additionally, the end of the month saw growth stocks sell off broadly on fears of higher interest rates.

Image source: Getty Images.

Source Fool.com