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Why Figma Stock Fell 16% in April

TheMotleyFool

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Why Figma Stock Fell 16% in April: https://g.foolcdn.com/editorial/images/868542/figma-for-edu_ice-cream-truck.jpg

Shares of Figma (NYSE: FIG) were pulling back last month even as the broad market moved higher, as the narrative that the design software company would be disrupted by AI picked up steam.

Anthropic released a new product called Claude Design, sending Figma stock plunging on the news, and Anthropic's Chief Product Officer, Mike Krieger, stepped down from Figma's board soon before it announced that.

Additionally, the kerfuffle around Anthropic's Mythos AI, which was reportedly too powerful to be released to the public, also weighed on Figma and its software-as-a-service (SaaS) stock peers.

Source Fool.com

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