Figma began trading on the New York Stock Exchange on Thursday after a long delay. It surged so rapidly that trading stopped for a short time due to market volatility.
Within a minute of the transaction, the market capitalization reached $45 billion, but the price bounced back from $101 to $124 a day. It was closed at a market capitalization of $115.50 and $47 billion, according to a Yahoo Finance report.
The company and existing investors sold the shares at an IPO price of $33 per share. Pretty pop. And with stock prices rising, aftermarket trading is still hot.
There was a huge demand for this stock, and the people in X were posting funny photos of orders being met by Robin Hood. Instead of getting dozens or hundreds of stocks as requested, they were allotted one lonely stock, they said. (I boasted that one person would win 17 shares.)
In any case, a successful IPO means a $20 billion acquisition by competitor Adobe in 2023.
