Figma, Inc. Class A Common Stock (FIG)

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Figma continues to grow at a fast rate, but is it fast enough?

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Ark Invest, led by Cathie Wood, bought 108,238 shares of Figma Inc. (NYSE: FIG) as its stock dropped 20%. Other key trades include selling Roku and buying Intellia Therapeutics.

All eyes were on Figma and its first report as a publicly traded company.

Figma's public debut reality check arrived quickly after its massive IPO.

With big sell-offs today, Figma is being pushed to its lowest prices since its IPO.

Figma Inc. (NYSE: FIG) shares dropped 19% due to lower earnings, despite strong revenue growth. Analysts have adjusted ratings and price forecasts.

Figma (NYSE: FIG) shares plunged on disappointing Q2 earnings. RBC lowered PT to $65, while Piper Sandler reiterated OW rating with $85 PT.