Why UiPath Stock Popped and Then Dropped Today
Shares of UiPath (NYSE: PATH) initially soared today after it reported better-than-expected results in its fiscal second-quarter earnings report last night.
However, that rally quickly gave way to a sell-off once the stock market opened this morning. Investors seemed to reexamine the news in the context of a disappointing employment report that showed the economy weakening faster than expected. That led to a sharp sell-off in tech stocks, weighing on UiPath.
As a result, the stock was trading down 5.3% as of 11:30 a.m. ET after opening up 10.4%.
Source Fool.com
