PATH - Better AI Stock: Symbotic vs. UiPath
2024-04-04 07:30:00 ET
Symbotic (NASDAQ: SYM) and UiPath (NYSE: PATH) both help companies streamline tasks and cut costs by automating tasks with artificial intelligence (AI). Symbotic processes pallets and cases in large warehouses with its automated robots and software, while UiPath plugs its AI algorithms into a company's software to automate repetitive jobs like entering data, processing invoices, and onboarding customers.
Both stocks have gone on wild rides since their public debuts. Symbotic went public by merging with a special purpose acquisition company (SPAC) in June 2022. Its stock opened at $10.54 on the first day and soared to record high of $63.54 on July 31, 2023, but it now trades at about $44.
UiPath went public at $56 in an initial public offering (IPO) in April 2021, hit its all-time high of $85.12 a month later, but is now worth just $22.
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Better AI Stock: Symbotic vs. UiPath