On May 29, Figma rose 5.53% in regular trading, trading at $24.685/share, with trading volume of approximately $281 million.

On the news front, activist investor Findell Capital Management publicly sent a letter to Figma's board this week, demanding significant cost cuts, product line streamlining, and an independent governance review of the company's relationship with Anthropic. Findell raised concerns that Anthropic's Chief Product Officer resigned from Figma's board just days before Anthropic launched Claude Design, a product that directly competes with Figma. The firm also highlighted that Figma's stock-based compensation at 27% of revenue far exceeds Adobe's approximately 8%.

Meanwhile, the AI application software sector rallied broadly, with the sector index expanding gains to 4%, as capital rotation from upstream hardware to application-layer companies became pronounced. Within the Application Software sector, Palantir Technologies rose 8.86%, Salesforce rose 8.66%, and Strategy gained 3.64%.

Additionally, Figma's Q1 earnings momentum continues to provide support, with revenue growing 46% year-over-year, EPS significantly beating expectations, and full-year guidance raised. The company's AI assistant Agent feature is also entering testing and expected to open to all paid users imminently, reinforcing AI monetization expectations.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)