What happened Shares of Appian (NASDAQ: APPN) jumped last month as the low-code software specialist benefited from changing market sentiment as investors responded to cooling inflation and expectations that the Federal Reserve would slow its interest rate hikes. APPN data by YCharts. Appian also announced a new product release and continued to spread the word about its $2 billion legal victory over rival Pegasystems, which is set to go to appeals court.