Cathie Wood's Ark Invest Buys 108K Figma Shares After 20% Stock Drop

Cathie Wood's Ark Invest has significantly increased its stake in Figma, purchasing over 100,000 shares for its ARKW ETF following a nearly 20% drop in the company's stock after disappointing quarterly earnings. Despite the revenue growth of 41% year-over-year to $249.6 million, Figma's earnings missed expectations, and guidance for adjusted operating income was lower than anticipated, contributing to the stock decline. Ark Invest's move aligns with its strategy of buying into high-growth tech companies during market downturns, signaling confidence in Figma's long-term disruptive potential and product momentum despite short-term execution risks. Figma also holds about $90 million in Bitcoin via an ETF, but the company remains focused on its core design business. Alongside Figma, Ark also acquired shares of Intellia Therapeutics and sold shares of Roku and Genius Sports, reflecting a broader portfolio adjustment. Analysts view Ark's buying as a potential signal to other growth-focused investors that the stock's selloff may be an overreaction.