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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.

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 potential of FIG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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