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Why Appian Stock Soared 52% in June

TheMotleyFool

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Why Appian Stock Soared 52% in JunePhoto, wide shot, wide-angle lens, Software company, sunset photo at golden hour, photo by Marc Adamus: https://img.theapi.app/temp/9d624ad0-0157-4808-b12c-caf136345180.png

Shares of Appian (NASDAQ: APPN) surged 52% in June, according to data from S&P Global Market Intelligence, although there was no major news out on the low-code cloud software maker. Instead, the stock seemed to benefit from some positive analyst chatter and what appeared to be a short squeeze as investors drove a number of meme stocks higher.

The chart below shows the stock gained steadily over the course of the month.