Figma Shares Drop on Q2 Results, Denies Bitcoin Treasury
Figma shares dropped around 10% in after-hours trading after the company released its Q2 earnings results. The design software firm reported revenue of $120 million, up 40% year-on-year, and an adjusted loss per share of $0.04, beating Wall Street forecasts. However, Figma clarified in its earnings call that it has no Bitcoin holdings and is not a crypto treasury, dispelling rumors tying it to corporate Bitcoin investment trends. The market reaction underscores how speculation about corporate Bitcoin exposure can sway stock prices, following similar episodes with MicroStrategy. Traders should note the sensitivity of tech stocks to perceived crypto treasury strategies and monitor any future statements on digital-asset holdings.
Bearish
Figma’s share slump reflects negative market sentiment driven by unverified crypto rumors. In past cases—most notably MicroStrategy—the announcement of Bitcoin acquisitions led to stock rallies, whereas the denial of any Bitcoin treasury triggered profit-taking. Short-term traders are likely to react to any future chatter about digital-asset holdings, increasing volatility. Over the longer term, clear corporate statements on crypto positions will be key to stabilizing investor confidence and guiding valuation adjustments.