Shares of Appian Corporation (NASDAQ: APPN), a provider of cloud-based, low-code software, tumbled today, likely because 10-year Treasury yields are rebounding.
The tech stock was down by 12.2% as of 3:59 p.m. EST.
While there wasn't any company-specific news that caused Appian's stock to fall today, inventors were likely responding to a bump in Treasury yields. The increase of the yields has some investors moving away from growth sectors in the market.
Source Fool.com