I doubled down on Figma today. I now hold shares at an average cost basis of $24 and if it keeps dropping before the next earnings call I'm going to keep buying.
FIG is eating shit because of the market sentiment that AI is going to end real software, but the market is so fucking wrong on this. Exhibit A: if you watch an actual professional try to vibe design something with Claude Design, the conclusion is always: this is going to take more work than had I done it from scratch in Figma.
Oh but you say...AI is going to get better...and fine, I agree, but like driverless cars, it's going to take a long ass time, and who is to say that Figma is not at the center of the eventual end game for AI design.
Meanwhile, FIG has a 30% YoY growth forecast, and I think that the sentiment will quickly shift back to reality when they see the real growth continuing to play out. Or imagine if growth gets revised up because of AI integrations (you do know that every vibe design tool has a Figma connector right, since Figma is the industry standard?).
I'll be the first to admit I'm wrong when REAL EARNINGS start to suck, but in the meantime, let's see what happens with the next call.