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Appian: The Pullback Is Creating A Long-Term Buying Opportunity
October 19, 2018
- Appian's stock has not performed well lately but the company's long-term bull case is still intact.
- Appian is a low-code, small-cap technology company that is worthy of investment dollars.
- I am long Appian and I plan to build the position in the months/quarters ahead.
Appian Corporation ($APPN) is a small-cap company that I own in the R.I.P. Portfolio. Appian has performed well since the company IPO'ed in mid-2017 but the stock has significantly underperformed the broader market on a YTD basis.
While the stock has not performed well over the last 10 months, I still believe that Appian has great long-term business prospects. Therefore, I view the recent pullback as a buying opportunity if you are willing (and able) to hold onto the stock for the next three to five years.