Why UiPath Stock Was Winning This Week
It was swept up in an impressive rally by legacy enterprise software companies.
Overview
Although UiPath (NYSE: PATH) didn't report any market-shaking news of its own these past few days, the enterprise software company was swept up in a rally by its peer group. As of late Friday evening, according to data compiled by S&P Global Market Intelligence, its stock was riding nearly 12% higher week to date.
Enterprise software has been a volatile segment of the tech sector so far this year. It wasn't very long ago that investors shunned companies in it, on fears that artificial intelligence (AI) would be disruptive enough to threaten their business models.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.