Why Figma Stock Lost 29% in June
Software stocks pulled back last month, weighing on Figma.
Overview
Shares of Figma (NYSE: FIG) were taking a dive last month as part of a broader pullback in software stocks amid ongoing fears of AI disruption, especially after Anthropic launched a competing product, Claude Design, in April.
Despite that decline, there was some positive analyst chatter for Figma, and the stock stabilized in the second half of June before gaining in the beginning of July.
Details
According to data from S&P Global Market Intelligence, the stock finished the month down 29%. As you can see from the chart below, most of Figma's losses came in the first half of the month.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.