Why Figma Stock Tumbled Today
Shares of Figma (NYSE: FIG) were having another awful day as the design-focused cloud software stock tumbled as part of a broad-based sell-off in the software sector that seemed driven by declines in sector leaders like ServiceNow (NYSE: NOW) and Microsoft (NASDAQ: MSFT) today. German software giant SAP (NYSE: SAP) also gave disappointing guidance in its earnings report.
Figma stock, which has plunged in recent months following a post-IPO pop last August, was approaching all-time lows, down 9.4% as of 1:59 p.m. ET.
Image source: Figma.
Source Fool.com
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