Any new buyers?
I just discovered and entered a position in Figma at 2000 shares ($24.70 avg)
WHY I ENTERED
The recent earnings of this company were very strong across the board , and in normal cases people would be buying this company up with their kind of growth. I also find it very intriguing that the company is trading far below the valuation that Adobe literally tried to purchase them at. I believe one could argue that the recent earnings showed this company can actually benefit from AI.
WHAT IM EXPECTING/HOPING FOR
Right now , this company is in a “prove it again” mode in my opinion. The entire market sentiment is “AI ruins SaaS companies” , but I’m expecting this sentiment to shift at some point and companies like Figma will be seen as a major buy at current levels. When am I expecting this? I don’t have a crystal ball for that, but I could argue we are slowly seeing signs of this sentiment slowly shifting with BoA recent target price raise of ServiceNow(SaaS company traded in the negative “ai ruins you” sentiment) . This is not the only case of sighs on sentiment shift, but I think it’s due to happen, and when it does, it will happen fast for major rips upwards.
I am expecting Figma to bounce back and forth, but ideally if they hold some gains from their recent earnings report in the next couple weeks, then I think that’s a strong sign. If they can produce another positive earnings report next quarter , then I see solid returns for this stock.
That being said, it seems a lot of people got fucked early on with this stock and now just hate it , but do we have any fresh minds/ new buyers here?