Figma's Rollercoaster Ride in the Stock Market

Figma Ord Shs experienced a dramatic drop of more than 20% on Monday, a stark contrast to its explosive debut on the stock market last Thursday. The company's initial public offering (IPO) had seen shares skyrocketing by an impressive 255%, opening at $85, far surpassing the $33 offering price, and closing the day at $116.30.

The following day, Friday, the stock continued its upward trajectory, reaching $122. This remarkable performance underscored the strong confidence investors have in Figma's business model and its potential for growth.

However, the early excitement was met with a reality check as the stock took a sharp downturn, dropping 20.53% to trade at $96.88 by 11:05 am ET. This pullback is attributed to early investors capitalizing on their gains, a common phenomenon following such significant initial surges.