Why Appian, Fastly, Fiverr, and LivePerson All Fell This Week
Shares of Appian (NASDAQ: APPN), Fastly (NYSE: FSLY), Fiverr International (NYSE: FVRR), and LivePerson (NASDAQ: LPSN) were all sliding this week as high-priced growth stocks largely pulled back on inflation concerns. There was no major news out on these stocks, but with June's consumer price index report showing inflation was hotter than expected, fears of tightening monetary policy from the Federal Reserve seemed to have cooled off these pricey stocks.
Through Thursday at 1:19 p.m EDT, Appian was down 13.9% for the week, Fastly had lost 12.6%, Fiverr had given up 12.5%, and LivePerson was down 9.9%. ARK Innovation ETF, one proxy for high-growth stocks, was off 7.5%, showing growth stocks were pulling back broadly.
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Source Fool.com
