UiPath Stock Plummets Amid Sudden Departure of CEO, Weak Sales Guidance

Key Takeaways Shares of UiPath (PATH) lost nearly a third of their value in Thursday's premarket session after the automation software company announced an unexpected CEO shakeup and provided current-quarter sales guidance that came in significantly below Wall Street estimates. The company, which develops software that automates repetitive tasks and processes, said 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. UiPath shares ...