Yahoo Finance Why Appian Stock Is Soaring Today
What happened
Investors in Appian (NASDAQ: APPN), a low-code software pioneer, are having a positive end to a volatile trading week. Shares were up as much as 13% in early morning trading on Friday. As of 10:55 a.m. EDT, they were up about 9%.
So what
On Wednesday, Appian's stock dropped more than 10% without any significant news. The company's news feed is just as bare today, so the move is likely nothing more than just normal market volatility.
Image source: Getty Images.
That reasoning is all the more likely when considering that a number of other high-growth tech companies are also rebounding sharply from their early week sell-offs. Square, Twilio, and Baozun all rose by double digits in early morning trading on Friday, too.
Tech stocks have been red-hot for many years, so the increased volatility makes sense when considering that most of these companies are high-beta stocks.
Now what
It can be challenging for investors to remain calm during periods of market turmoil. The past week has certainly been challenging for all investors, but the pain has been especially hard on those of us who like high-growth stocks.
In times like these, it's important for investors to remain focused on company fundamentals and do their best to ignore the day-to-day gyrations. On that front, there's little doubt that Appian is executing well against its long-term opportunity. That's why this bull plans to continue to hold Appian's stock with a long-term mindset.
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Brian Feroldi owns shares of Appian, Square, and Twilio. The Motley Fool owns shares of and recommends Appian, Baozun, Square, and Twilio. The Motley Fool has the following options: short January 2019 $80 calls on Square. The Motley Fool has a disclosure policy.
