This meeting reviewed the notable debut of Figma's IPO, its rapid stock appreciation, and comparisons to prior high-profile IPOs. Discussion covered reasons for the day's broader market decline, including SPY breaking key supports, seasonal market data, tariff deadline impacts, and earnings reports from Apple and Amazon. The group analyzed upcoming earnings, trading setups for tomorrow, notable options trades, and community member highlights.
Action Items
None identified with specific owners or due dates in the transcript.
Figma IPO Overview & Market Impact
Figma made a highly successful public debut, opening at $85 per share (158% above its $33 IPO price), and reached up to $128 after hours.
The company’s AI-driven design platform is widely used by major industry players.
Comparisons were made with previous hot IPOs (Snapchat, Uber), noting initial surges often lead to significant subsequent pullbacks; caution around IPO hype was advised.
Increased competition from Figma may continue to pressure Adobe, which is already down 44–48% from recent highs and has broken key support at $360.
Broader Market Recap & SPY Analysis
The SPY index posted its fourth consecutive loss, breaking multiple short-term support levels.
Contributing factors: market overextension, seasonal August weakness, negative historical August performance in presidential second terms, and volatility trends (VIX).
Key SPY levels to watch include 631.50, 629.50, 628, and 626, with recent trendline breaks suggesting further downside risk.
The extension of Mexico’s 25% tariffs and uncertainty around the August 1st trade deadline may be impacting market confidence.
Earnings Reports: Apple & Amazon
Apple posted its strongest revenue growth since December 2021, beating both EPS ($1.47 vs. $1.43 est.) and revenue ($94.04B vs. $89.53B est.), with iPhone revenue up 13% YoY.
Despite positive earnings, Apple stock faced resistance and pulled back in after-hours trading.
Amazon also beat on EPS ($1.68 vs. $1.33 est.) and sales (13% YoY growth; $5B beat), but stock declined in response to weaker Q3 guidance and possible tariff concerns.
Upcoming Earnings & Market Events
Exxon, Chevron, Regeneron, Dominion Energy, and Colgate report earnings before market open tomorrow, with oil sector results flagged as particularly noteworthy.
Key economic data (non-farm payrolls, unemployment rate, and ISM manufacturing PMI) are due Friday and may influence market volatility.
Trade Setups & Momentum Plays
Advanced Money Dispenser (AMD): Watching for downside if 174–175 support breaks due to lack of buy interest below $174.
Roblox: Potential for upside if 151.30 breaks; secondary intraday level at 142.50 for support/resistance trading.
Momentum plays: Apploving (A) to upside above $400; NIO to upside above $5.00; ARM to downside below $139, with all trades contingent on level breaks and use of stop-losses.
Notable Options Trade
A $771,000 put option was placed on CCJ (Cameco), targeting the 67 strike for September 5, 2025. With CCJ overextended and exhibiting a large red daily candle, a near-term pullback was discussed as likely.
Community Highlights
Member shout-outs: Artemis recognized for gains on Nvidia calls, with several other community members sharing significant profits for the month.
Promotion of the Stocked Up community and its resources for traders.
Decisions
No formal decisions were made during this meeting.
Open Questions / Follow-Ups
Will Figma maintain its post-IPO momentum, or experience a reversal like Snapchat/Uber?
How will the August 1st tariff deadline and trade negotiations ultimately impact market sentiment?
Will Apple and Amazon sustain or reverse their immediate post-earnings stock movements in the coming days?
Will upcoming economic data releases intensify volatility or change market direction?