Business
The Appen (ASX:APX) share price has fallen 60% from its 52-week high
After surging to a new all-time high price of $43.66 in August, Appen Ltd (ASX: APX) shares have now lost almost 60% of their value and are trading at just $17.38.
This is also not far off the 52-week low of $15.15 the Appen share price fell to during the worst days of the COVID-19 crash last March.
It’s a massive about-face for a company that was once considered a must-have growth share. Along with WiseTech Global Ltd (ASX: WTC), Afterpay Ltd (ASX: APT), Altium Limited (ASX: ALU) and Xero Limited (ASX: XRO), Appen was a member of the WAAAX group of stocks – media darlings and supposed disruptive industry innovators.
Simply put, Appen specialises in machine learning and artificial intelligence (AI). The company provides large…
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