UiPath Stock Plummets Amid Sudden Departure of CEO, Weak Sales Guidance
PATHUiPath(PATH) Investopedia·2024-05-30 19:35

Key TakeawaysUiPath shares plummeted ahead of Thursday's opening bell after the automation software company announced an unexpected CEO shakeup and provided current-quarter sales guidance that came in significantly below Wall Street estimates.CEO Rob Enslin is stepping down on June 1 and will be replaced by co-founder Daniel Dines, who had resigned as co-CEO on Jan. 31.The company cited a softening macroeconomic environment and the leadership transition for its weaker-than-expected sales outlook.Investors m ...