Figma Finally Freefall! Options Launch: How to Determine Buy-the-Dip Price?
$Figma(FIG)$ plunged 27% and closed at $88.6. Its options just launched this week, with the lowest available strike price at $70.
At what price would you consider selling puts?
After yesterday’s 27% drop, Figma is now trading at a P/S ratio of 52.61. If you sell a put at $70, you're essentially betting on a valuation where the P/S drops to around 41—still lofty。
To put things into perspective:
Figma’s revenue is only ~4.8% of $Adobe(ADBE)$, yet its market cap has reached ~30% of Adobe’s.
Figma’s P/S of 52.6 is 6.27x higher than Adobe’s (P/S = 8.39).
A $70 share price implies a $34.1B valuation, and a P/S of 41.6.
Looking to bottom-fish? You might need to wait until below $50, when P/S drops below 30.
💡 Did you know? Adobe once agreed to acquire Figma for $20B, which corresponds to a share price of around $41—less than half of today's price.
What do you think:
Can Figma sustain a P/S ratio north of 50?
Will the stock really dip to $50 or below?
At what price would you consider selling puts or buying the dip?
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就我个人而言，当股票接近50-55美元区间（市盈率低于30）时，我会考虑卖出看跌期权。对于一家在Adobe交易取消后仍在证明其独立实力的公司来说，这意味着更健康的风险/回报平衡和更现实的估值。
至于逢低买入，我还没有急于买入。Adobe失败收购的41美元的价格标签仍然萦绕在我的脑海中——那是200亿美元的估值，任何接近这个水平的价格都将提供更具吸引力的长期进入。
@Tiger_comments @TigerStars
Figma的P/S为52.6比Adobe高6.27倍(P/S=8.39)。
70美元的股价意味着$34.1 B估值，和一个P/S为41.6.
正確看待事物：
菲格瑪的收入僅爲約4.8%$Adobe(ADBE)$，然而它的市值已達到Adobe的30%左右.
Figma的P/S爲52.6比Adobe高6.27倍(P/S=8.39)。
70美元的股價意味着$34.1 B估值，和一個P/S爲41.6.
At USD 122 Figma's market cap hit USD 60 billion, translating to a P/S ratio of 184 times, far above its peers like Adobe at 7.5 times.
Profit taking and broader market earnings from Morgan Stanley triggered a sell off.
Can Figma sustain a P/S ratio of over 50? Unlikely unless it can deliver hypergrowth.
Will it dip to USD 50? Possible if Q3 Earnings disappoint or macro headwinds persist.
What is Buy-The-Dip zone? If it dips to USD 55 to USD 65. This is provided revenue growth stays above 35% and competition does not erode pricing power.
Figma is a high risk high reward kind of stock, not suitable for risk adverse investors.
@Tiger_comments @TigerStars @Tiger_SG @CaptainTiger