Will FIG rebound after earnings?
The plot has thickened for the tumbling Figma stock price as the post IPO freefall accelerated after the company published its earnings report. FIG plunged by 14% to $58, down by over 52% from its all-time high, bringing its market capitalization to below $30 billion.
Figma stock plunges despite strong numbers
Figma is a technology company that aims to disrupt the design industry by focusing on collaboration. It is one of the two companies trying to disrupt a business that Adobe has always dominated. The other one is Canva, the fast-growing Australian company.
Adobe attempted to buy Figma a few years ago in a $20 billion deal, which regulators blocked, forcing it to pay a $1 billion termination fee.
A statement released on Wednesday…
