Bold Move: Buying the Dip on Figma After First Earnings Report
Following the stock’s roughly 20% decline following the company’s first earnings report since going public, Ark Invest has added more than 100,000 shares of Figma to its ARKW ETF. It was revealed through the well-known Ark Invest Tracker X account. However, ARK’s public filings have not yet been independently verified.
Figma Selloff Fails to Scare Ark Invest
The acquisition of stock aligns with Ark‘s historical approach of investing in high-growth companies during times of distress. Dan Dadybayo, Research and Strategy Lead at Unstoppable Wallet, an open-source, non-custodial cryptocurrency wallet, said this action aligns with their long-term goals. The acquisition is a classic Cathie Wood strategy, according to Dadybayo, who supports businesses she believes will be long-term disruptors and leans toward instability.
In spite of the selloff and share decline, ARK seems to be expressing confidence in Figma’s high margins, collaborative design moat, and product momentum. These considerations, he continued, surpass the risks of short-term implementation. According to Dadybayo, taking this position might help to reframe the pullback as an overreaction and draw in additional growth-oriented investors with a long-term outlook.
Figma Reveals $90M Bitcoin Holdings Amid Earnings Report
The July-listed company Figma reported $249.6 million in revenue for the quarter, a 41% increase over the previous year. Shares fell almost 20% to $54.56 as rising costs and narrower margins stoked concerns about its capacity to maintain early momentum. The company predicted $90–100 million in adjusted operating profits, which wiped out a large portion of the stock’s post-IPO premium. Additionally, the business revealed that it owned almost $90 million in Bitcoin through an ETF. However, CEO Dylan Field insisted that Figma is a design-focused organization and not a Bitcoin holding firm.
For more up-to-date crypto news, you can follow Crypto Data Space.
