This Propelled Figma’s (FIG) Double-Digit Gain Today

Figma Inc. (NYSE:FIG) is one of the 9 Stocks Stealing the Show.

Figma rallied by 10.39 percent on Wednesday to close at $20.33 apiece, with the rally primarily driven by an overall market optimism and renewed confidence for AI-related stocks that overshadowed news of key management changes.

In a regulatory filing, Figma Inc. (NYSE:FIG) announced that Mike Krieger, who joined the company last year, has stepped down from the board effective immediately.

figma

Photo from Figma website

The company did not divulge any reason for the resignation, but it dispelled any disagreement with the management or its policies.

Earlier this week, Figma Inc. (NYSE:FIG) received a “neutral” rating from investment firm BTIG, reflecting its mixed outlook for its future performance, particularly over concerns about valuation and path to profitability despite the listed firm’s revenue growth expectations.

BTIG said that it remained neutral about the listed firm’s potential to be one of the earliest application software companies to monetize AI, despite the latter already beginning to generate revenues from credit consumption and credit limits from its AI-powered tool, Make, and in spite of a 70-percent increase in weekly average users quarter-on-quarter.

“That said, it remains difficult to decipher the degree to which monetization can happen in the [near term] and how much the initial usage will carry through once customers are charged,” it noted.

While we acknowledge the risk and potential of FIG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FIG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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