Why Appian Stock Fell 11% Today

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Shares of Appian (NASDAQ: APPN), the low code app-building platform, fell again today as some investors continued their exit from the tech sector. 

The tech stock was down by 11.5% as of 3:39 p.m. EDT.

For the past few months, investors have begun shifting their attention to other areas of the economy that they believe will benefit as the U.S. emerges from the pandemic. With several COVID-19 vaccines available and states ramping up vaccine distribution, some investors are taking their money out of tech stocks — which have performed very well over the past 12 months — and putting it elsewhere. 

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