Why Appian Tumbled 15% in July
Shares of Appian (NASDAQ: APPN) fell by 15.5% last month, according to data provided by S&P Global Market Intelligence, on no company-specific news. The sell-off may have come as investors pulled back some of their optimism about the company from the previous month when they drove Appian's share price up more than 50%.
Investors have, generally speaking, sold off some high-growth technology stocks earlier this year, after pouring into the sector in 2020. Appian's low-code app building platform became a tech stock darling last year, with its share price skyrocketing 324%.
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Source Fool.com
