Why Appian, Datadog, and Beyond Meat Stocks Took a Hit Today
Shares of low-code automation specialist Appian (NASDAQ: APPN), monitoring and analytics platform provider Datadog (NASDAQ: DDOG), and plant-based meat company Beyond Meat (NASDAQ: BYND) were all hit hard on Thursday. The stocks slid as much as 7.2%, 9%, and 5%, respectively. As of 11:45 a.m. EDT, however, they had recovered and were down 2.6%, 7.8%, and 2.7%, respectively.
The three stocks' declines come as many growth stocks continue to get pummeled this week.
In addition, some investors may be trying to de-risk their portfolios from further potential declines since all three of these companies report their quarterly results after market close today. While it's possible that their shares could rise following their quarterly reports, the market hasn't been kind to very many growth stocks recently following their earnings reports. Some investors, therefore, may be fearful going into this afternoon's updates.
Source Fool.com
