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What's Wrong With Figma Stock?

TheMotleyFool

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On July 31, software company Figma (NYSE: FIG) went public. Things started out great -- its shares hit a high of just under $143 on their second day of trading. Figma looked poised to be the next hot stock to own in the tech sector.

But it has been a far different story since then. Last week, it closed at less than $39, a far cry from those August highs. Investors haven't seen a reason to buy shares of the business, despite Figma's strong growth numbers. While the stock's valuation may have grown a bit rich initially, is this significant decline justifiable, or has the market overreacted and created what could be a great buying opportunity?

Image source: Getty Images.

Source Fool.com

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