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Adobe Inc. (NASDAQ:ADBE) is one of the Best Extremely Profitable Stocks to Buy Right Now. On July 21, Reuters reported that Figma is planning to go public with an initial public offering targeting a valuation of up to $16.4 billion.
The report highlighted that the company aims to raise about $1.30 billion by selling nearly 37 million shares, priced between $25 and $28 each. The IPO is expected to be on the New York Stock Exchange under the ticker “FIG” and is backed by underwriters like Morgan Stanley and Goldman Sachs.
Analysts are seeing this update as a significant one for Adobe Inc. (NASDAQ:ADBE), as it had planned to acquire Figma for $20 billion a year ago; however, the deal collapsed due to regulatory issues in Europe and the UK.
Adobe Inc. (NASDAQ:ADBE) is an international tech company known for its digital solutions for content creation, management, and delivery.
While we acknowledge the potential of ADBE 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.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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