It's been a brutal year for Appian (NASDAQ: APPN) shareholders. After skyrocketing in value in 2020, the stock backtracked in 2021 and lost nearly 60% of its value. The slide has continued the first couple weeks of 2022 as high-growth stocks remain under pressure. But today, Appian is getting a bit of a relief rally. The stock is up 6.2% as of 12:55 p.m. ET.
Like other high-growth tech stocks, Appian has been suffering as of late because of the threat of higher interest rates. The Federal Reserve has indicated a few short-term interest rate hikes are likely in order this year to try to beat back inflation. Higher rates lower the present value of stocks , especially those like Appian that are growing fast but are not yet profitable.
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Why Appian Stock Jumped 6% Higher This Morning