FIG is trading at $24.14 (down 4.4%) as Google’s updated Stitch AI tool introduces natural language-to-UI design capabilities that directly compete with Figma’s core platform.
- The move marks the steepest drop in over a month, extending a sharp decline from March 18 when shares fell 7.98% to $25.26.
- Investors are concerned that AI-driven tools capable of generating high-fidelity designs from text prompts could erode Figma's market dominance.
- Broader market headwinds are also weighing on the stock, with the S&P 500 down 0.60% amid Fed hawkishness and geopolitical tensions in the Middle East.