Buy Or Fear Figma Stock At $78?

1. Figma's stock surged 3x on IPO, then dropped nearly 40% in five days. 2. Currently valued at $38 billion, Figma's valuation is very high compared to peers. 3. Figma's growth at 46% outpaces competitors, but valuation leaves little room for error. 4. Competitive pressures from Microsoft and AI tools pose risks to Figma's market position. 5. Future opportunities may arise post-IPO lock-up in January 2026.