Core Insights - The S&P 500 has nearly doubled since the 2022 bear market, raising concerns about a potential market bubble, with the index currently trading at a P/E ratio of 29, close to double its historical average [3] Company Analysis: Figma - Figma, a cloud software company specializing in UI/UX design, had a significant IPO, with its stock price increasing over 300% from an initial price of $33 to a peak of $142.92 [5] - Currently, Figma shares are trading around $55, with a market cap of $26 billion and a P/S ratio of 28, indicating potential for growth despite being considered not cheap [6] - The company reported second-quarter revenue of $249.6 million, a 41% increase year-over-year, surpassing estimates, although it fell short on earnings and indicated declining margins for the second half of the year [7] - Figma is investing in new AI-driven products, which could enhance its market position and drive future growth, making it a candidate for significant stock appreciation [8]