Why Appian Stock Is (Still) Falling Tuesday
Shares of Appian (NASDAQ: APPN) stock, which roughly tripled in price over the last month, crashed 28% in Monday trading -- on no apparent news whatsoever. Appian stock is falling again on Tuesday, if not quite so steeply, down about 4.8% in noonday (EST) trading. The first part is pretty easy to explain: Reporting earnings Nov. 5, Appian beat analyst expectations when it reported a 40% increase in cloud subscription revenue, total revenue growth from all sources of 17%, a smaller-than-expected GAAP loss on the bottom line, and breakeven profits (calculated pro forma).
