Appen Ltd (ASX: APX) shares are up over 5% today after sliding almost 13% during intra-day trading on Monday of last week. This unexpected sell-off earned the company a "please explain" notice the following day.
With no announcements or news, the company responded as expected highlighting no other information had been released to the market and that Appen Ltd remains compliant with the Listing Rules.
As highlighted in last week's article the primary reason for the decline in share price appears to be a sell-off from some profit takers.
News surrounding new artificial intelligence technology from Google may have also frightened some investors with potential to come into competition with Appen's services into the future.
It appears as though investor confidence is going to remain high for the time being though, with the 'buy' party staying in the majority.
Foolish Takeaway
Appen shares have now doubled over the course of 2017 as investor excitement soars over its profit growth rates, competitive position, and big-name client list. As such it could be worth adding to your small-cap watch list.
