Shares of Appian (NASDAQ: APPN) fell today on seemingly no company-related news. The stock is likely following the broader market's slide this morning as the U.S. continues to grapple with rising COVID-19 cases.
The tech stock was down by as much as 10.5% this morning and had tumbled 9.2% as of 11:18 a.m. EST.
The S&P 500 was down more than 1% this morning as investors continued to process information about rising coronavirus cases and a slow rollout of vaccines. Appian investors have been mostly optimistic about the low-code app-creating company over the past year, but they could be concerned that a potentially longer-than-expected vaccine rollout could hurt the overall economy.
Source Fool.com