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Why Appian Stock Lost 23% in March

TheMotleyFool

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Why Appian Stock Lost 23% in MarchPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/ec495607-1e17-40ee-a41d-7726313a9707.png

Shares of Appian (NASDAQ: APPN) were moving lower in March as the cloud stock succumbed to broader pressure on growth stocks; investors rotated out of high-priced tech stocks and into value stocks. Appian, which specializes in low-code software, seemed particularly vulnerable after shares had more than tripled in a run-up that began in November.

According to data from S&P Global Market Intelligence, the stock finished the month down 23%, even though there was no major news out on Appian. As you can see from the chart below, the stock was volatile, but finished the month in the red.