Why Figma Stock Lost 29% in June

Figma stock dropped 29% in June as software sector fears intensified following Anthropic's Claude Design launch and weak earnings from SaaS peers. Salesforce, Adobe, and Oracle all delivered disappointing results that amplified concerns about the vulnerability of seat-based software business models to AI disruption.

The selloff accelerated through most of the month before stabilizing in late June. Citigroup issued a buy rating on Figma, providing a floor for the stock. Figma's Config conference in late June also helped stem losses, with the company making product announcements that reassured investors. The recovery extended into July.

The Claude Design launch represented a direct threat to design collaboration platforms, as AI-powered tools increasingly promise to automate workflows that currently require full software seats. The broader software sector faced a repricing as investors questioned which subscription models would survive the AI wave intact. Figma's seat-based pricing structure came under scrutiny alongside other legacy SaaS companies.