3 Growth Stocks Down 70% to Buy Right Now

Core Insights - The stock market has experienced significant volatility, with a quarter of publicly traded companies losing over half their value, and 10% of stocks dropping at least 70% from their peaks [1] Company Analysis Figma - Figma's stock has seen a dramatic decline, trading 79% below its 52-week high after initially being a market favorite, peaking at $143 after its IPO at $33 [2][6] - Despite a slowdown in growth, Figma reported a surprising 40% revenue increase in the last quarter, countering bearish sentiments surrounding SaaS stocks [7][8] - The company's net dollar retention rate has improved to 136%, indicating strong spending from returning customers, although margins remain under pressure [8][9] Market Context - The rise of AI poses challenges for companies like Figma, particularly in sectors that can be automated, such as website design and app updates [5][9] - The competitive landscape may tighten, impacting pricing strategies, but Figma's strong retention metrics suggest that the current sell-off could represent a buying opportunity [9]