Cathie Wood's Ark Invest Faces $9 Million Loss After UiPath Stock Plummets 28% on 5/28

Cathie Wood's Ark Invest faced significant losses after purchasing 451,000 shares of UiPath Inc. (PATH) on May 28. The stock dropped nearly 28% in after-hours trading on May 29. Despite UiPath reporting a quarterly EPS of $0.13, which beat the $0.12 estimate, the company's sales forecast fell short of expectations. UiPath projected 2025 revenue between $1.41 billion and $1.41 billion, below the estimated $1.56 billion, and a full-year operating profit of $145 million, compared to the expected $295 million. The timing of the purchase led to over $9 million in losses for Ark Invest.