This article is excerpted from a letter by MOI Global instructor Michael Shearn, portfolio manager of Compound Money Fund, LP.
During the second quarter, we doubled our position in Appian (APPN) at an average cost basis of $26.50 per share. We believe the company’s growing customer adoption rate will accelerate future revenues.
There is strong demand for software development, but relatively few people who can develop software. Appian believes the solution is to multiply the effectiveness of software developers. Appian’s platform can accelerate software developers’ speed by up to 20 times, producing custom software in far less time.
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