Cathie Wood Purchases Figma Stock Amid Decline

Cathie Wood's Ark Invest acquired over 108,000 shares of Figma (FIG) through its ARK Next Generation Internet ETF (ARKW) after the design software company's stock dropped nearly 20% following its disappointing first earnings report as a public entity. Figma's fundamentals remain robust with over 13 million monthly users and major clients such as Alphabet, Microsoft, Netflix, and Uber. The company has shown innovation by doubling its product portfolio and expanding beyond traditional design tools into the development workflow.