Figma’s stock soared in its highly anticipated IPO, market cap instantly hit $45B

In a highly anticipated market debut, Figma, the collaborative design platform, commenced trading on the New York Stock Exchange (NYSE) on Thursday, experiencing an immediate and dramatic surge in its stock price. The rapid ascent was so significant that trading was temporarily halted due to market volatility, signaling intense investor enthusiasm.

Within just a minute of opening, Figma’s market capitalization instantly reached an impressive $45 billion. Throughout the trading day, the stock exhibited considerable dynamism, fluctuating between a low of $101 and a peak of $124. It ultimately closed at $115.50, solidifying its market cap at a staggering $47 billion, as reported by industry sources including Yahoo Finance.

The initial public offering (IPO) saw the company and existing investors offer shares at a price of $33 per share, a figure that witnessed a remarkable “pop” upon market entry. Post-market trading continued to reflect strong demand, with the stock price maintaining its upward trajectory, underscoring robust investor confidence in Figma’s prospects and valuation.

Such was the fervor for Figma’s shares that social media platforms, notably X (formerly Twitter), became a hub for anecdotes regarding share allocations. Numerous aspiring investors humorously shared experiences of receiving only a single share from platforms like Robinhood, despite requesting dozens or even hundreds. These instances highlight the extraordinary demand that far outstripped initial supply, with a fortunate few boasting allocations of up to 17 shares, demonstrating the competitive nature of the IPO.

This triumphant IPO marks a pivotal moment for Figma, decisively shifting its narrative. The successful public offering now firmly relegates the previously failed $20 billion acquisition attempt by competitor Adobe in 2023 to merely a historical footnote, underscoring Figma’s independent strength and market validation.