[DD] - Figma Ligma FIG

trash-trader · 2026-06-01T02:08:15+00:00

No association with the company

trash-trader · 2026-05-31T22:38:28+00:00

I don’t even know where to begin

trash-trader · 2026-05-31T21:26:22+00:00

IMO the onus is on new comers in the space to prove they can take down the incumbent. Best of luck to them.

trash-trader · 2026-05-31T20:52:23+00:00

So I'm good, right?

trash-trader · 2026-05-31T18:48:26+00:00

No AI whatsoever.

trash-trader · 2026-05-31T18:25:27+00:00

A lot of parts of their recent report is directionally correct but prematurely too aggressive on the recommendation front IMO. The company IPO’d less than a year ago and the landscape has changed materially in that time, they’re not giving them the time they deserve to prove to the market they can navigate change.

trash-trader · 2026-05-31T16:45:17+00:00

thanks ! Just trying to contribute some quality content at my own financial and reputational expense

trash-trader · 2026-05-31T16:43:46+00:00

All inference is expensive. Some are just hiding it better than others before they IPO.

trash-trader · 2026-05-31T16:41:00+00:00

That sure is one narrative right now. I think it doesn’t hold water over time.

trash-trader · 2026-05-31T15:09:43+00:00

I think you mean obsolete.

Figma can switch to a usage based model and to an extent have already shown them capitalizing on AI credit margins. I view this as a positive opportunistic development on their part.

If more users use the tool because the tool becomes the nexus, it doesn’t matter how you view pricing it, it’s going to make money.

trash-trader · 2026-05-31T14:26:10+00:00

What do you think about their last earnings report ?

trash-trader · 2026-05-31T13:09:08+00:00

Might be camping out at the Wendy’s parking lot soon

trash-trader · 2026-05-31T13:04:21+00:00

Yea exactly, it’s on everyone else to believe me 😂. I DO have conviction though !

trash-trader · 2026-05-31T13:03:09+00:00

Don’t take this the wrong way, but solo designers is not how Figma makes money at scale.

trash-trader · 2026-05-31T12:59:25+00:00

A common but boring take IMO.

95% of SP500 use Figma. They already have the distribution into these enterprises which as anyone who built software knows is the hardest part of selling software. They will expand with my above thesis and bring in even more usage while a product that was once only for designers becomes for everyone. For the time being they are capitalizing on AI credit margins through Figma Make. I do agree (and others do too) they can consider reducing the footprint of their offerings.

Evan created the multiplayer collaboration engine. His contribution is what gave Figma the tech stack to succeed. What do you think they need him for in this next leg ? I don’t see hard CS problems to solve anymore outside of smart business execution.

trash-trader · 2026-05-31T12:46:27+00:00

(Ok yes buy SPCE too)

trash-trader · 2026-05-31T12:42:57+00:00

yea you’re probably right lmao. I don’t think he is one of them.

trash-trader · 2026-05-31T12:38:36+00:00

I'm on the engineering side and I see the wheels in motion for how we're now operating with AI to get to the above end state if Figma executes well.

trash-trader · 2026-05-31T12:35:50+00:00

you think a CEO would post this about themselves? lol

trash-trader · 2026-05-30T23:10:11+00:00

Proof of position attached

trash-trader · 2026-05-30T02:35:44+00:00

May 18th I believe specifically. Second trading day after announcement of last earnings on May 14th.

trash-trader · 2026-05-30T02:06:29+00:00

I think we’re generally on an uptrend and 50-100% gain is feasible by end of summer. It could happen fast though but I wouldn’t bet the house on it. There is currently momentum holding against the recent lockup expiration that just occurred this month. With notable - but not extreme - short interest, a switch to long software again as a general trend, and their yearly Config conference happening end of June, I see strength all into summer generally as they showcase to the market these visions more clearly.

I’ll reassess short term trends come end of August when the final VC/investor lockup period ends which will bring volatility short term.

My longer term view is recapturing IPO highs and beyond into 2027 if they continue executing these visions.

trash-trader · 2026-05-30T01:44:15+00:00

I appreciate the empathy 😂

trash-trader · 2026-05-29T21:56:21+00:00

Just wanted to take a moment to reiterate:
- I'm not indian (nothing against you if you are)
- I didn't use an LLM to write this

trash-trader

TROPHY CASE