Ark Invest has quietly added more than 100,000 shares of Figma to its ARKW ETF after the design software company’s stock plunged nearly 20% to $54.56 following its first quarterly report as a public company. The move was flagged by the Ark Invest Tracker X account but has not yet been confirmed in ARK’s public filings; Decrypt says it reached out for comment.
Analysts say the purchase fits Cathie Wood’s playbook of buying growth names on weakness. Dan Dadybayo, research lead at Unstoppable Wallet, called it a “textbook Cathie Wood move,” noting Ark’s history of adding to positions after earnings-driven selloffs — including a large Tesla buy earlier this year.
Figma reported $249.6 million in quarterly revenue, up 41% year‑over‑year, but rising expenses and slimmer margins prompted cautious guidance. Management forecast adjusted operating income of $90–100 million, a projection that pared back some of the stock’s post‑IPO premium and helped trigger the decline.
On the crypto side, Figma disclosed roughly $90 million of Bitcoin held via an ETF — about 6% of its treasury. CEO Dylan Field stressed the company is not a “Bitcoin holding company” and remains focused on design. Dadybayo said the Bitcoin stake signals broader macro awareness without fundamentally changing Figma’s risk profile.
Why this matters: Ark’s purchase may signal conviction on Figma’s collaborative moat and long‑term potential, possibly attracting other growth investors. Still, market volatility and corporate crypto holdings introduce additional layers of risk — this is not investment advice, and readers should consider both equity and crypto risks before acting.
Source: Decrypt. Read the original coverage for full details.
