PATH - Prediction: This Artificial Intelligence (AI) Company Will Be Acquired by Next Year
2024-06-07 17:30:00 ET
The S&P 500 and Nasdaq Composite have both posted returns of roughly 10% so far in 2024. One of the biggest catalysts driving these returns is artificial intelligence (AI).
While this might make the technology sector particularly tempting, smart investors know that not all opportunities are equal.
One stock that got ahead of itself amid AI euphoria is UiPath (NYSE: PATH) , a developer of robotics processing automation (RPA) software to help office workers with administrative tasks. At the beginning of the year, shares of UiPath were hovering around $25. But now? The stock is down over 50% this year, and shares trade for just $11.
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Prediction: This Artificial Intelligence (AI) Company Will Be Acquired by Next Year