Why Appian, Fastly, and Alteryx All Jumped Today
The share prices of Appian (NASDAQ: APPN), Fastly (NYSE: FSLY), and Alteryx (NYSE: AYX) were all climbing today as some investors appear to be moving back into the tech sector. Investors have been particularly wary of technology stocks recently as inflation has climbed to a 40-year high, but the rally from these three stocks today shows that some investors may think the sector has finally reached its bottom.
Appian was up by 6.5%, Fastly had gained 6.2%, and Alteryx jumped by 9.8%, as of 12:32 p.m. ET.
There wasn't any company-specific news today that was pushing up the prices of these stocks. Instead, investors may be taking a look at the broader market sell-off that's occurred this year -- the tech-heavy Nasdaq Composite is down 29% year to date -- and thinking that it's time to bet on high-growth tech stocks again.
Source Fool.com
