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Cathie Wood's ARK Invest doubles down on UiPath as software firm's stock price crashes

The asset manager, which is focused on disruptive technologies, bought $28 million worth of UiPath stock as shares in the company fell 34% on news its CEO...
Cathie Wood's ARK Invest significantly increased its stake in UiPath, a software company, by purchasing an additional 1.1 million shares on a day when UiPath's stock price plummeted by 35% following a disappointing quarterly earnings report and a lowered full-year revenue forecast. Despite the stock's sharp decline, ARK Invest, which already held a substantial position in UiPath, demonstrated confidence in the company's long-term potential by adding to its holdings. This move aligns with ARK's investment strategy of capitalizing on market dips to buy into innovative technology companies at lower prices.

Read the Full MarketWatch Article at:
https://www.marketwatch.com/story/cathie-woods-ark-invest-doubles-down-on-uipath-as-software-firms-stock-price-crashes-b828f9ae

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