Jim Cramer on Figma’s Valuation: “That is Just Plain Nuts”

Figma, Inc. (NYSE:FIG) is one of the stocks Jim Cramer recently shared his thoughts on. Cramer discussed its valuation during the episode, as he said:

“When we get parabolic moves in newly minted stocks like Figma, which launched at 33, quickly went to an intraday high of 142, I was sick to my stomach. It’s why I went back to my old days of shtick and crushed a box of Fig Newtons. We know that the people paying $142 for Figma had no idea what they were buying, a web-based collaborative design platform, because if they did, they’d never ever pay that much for it. Even now, Figma stock has come down to 54 bucks and change, you’re still talking about a price-to-earnings multiple of 178. That is just plain nuts.”

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels

Figma, Inc. (NYSE:FIG) provides a cloud-based design platform that enables teams to collaborate on interface design, prototyping, and product development. It provides tools for design systems, whiteboarding, presentations, illustration, brand assets, websites, and AI-driven prototyping.

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Disclosure: None. This article is originally published at Insider Monkey.