I think the following extract from an article in today's AFR sums it up pretty well.
"The presentation’s speaking notes provided to the public via the ASX platform referenced a downturn in advertising markets and the issue of major customers reprioritising product development. But analysts suggested the selling came about as Appen skipped the opportunity to reiterate its calendar year 2021 guidance, which was for EBITDA between $120 million to $130 million. This, it seems, was a profane omissionfor skittish shareholders already worried about Appen’s sales pipeline and performance over the first four months of 2021."
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