Figma Stock Crashed Hard but its Q4 May Have Flipped the Script - Moby THE GIST Figma, a design app and and supposed “Adobe killer,” officially went public last July. Many investors bought the hype that they, like Palantir and others, would ride the AI wave. But the wave crashed, based on their stock price. It’s now trading at about $26, down 80% from its IPO. WHAT HAPPENED This week, Figma reported its fourth-quarter earnings and dropped guidance for the year. To its beaten-down investors and Wall St ...