Why Figma Stock Skyrocketed 250% This Week
Shares of Figma (NYSE: FIG) exploded this week after its public debut on Thursday. The stock is currently trading 253% higher than its initial public offering (IPO) price as of 3:17 p.m. ET. The extreme leap comes as the S 500 lost 2.4%, and the Nasdaq-100 lost 2.2% amid new tariffs and weak jobs data.
Figma, which offers a web-based design platform that is used to create websites and apps, IPOed on Thursday at $33 a share and is now trading above $118. The huge IPO eclipsed even the recent success of Circle Internet, which saw its stock triple in the first few weeks.
The company has now reached a valuation of nearly $60 billion. That is a pretty hefty valuation, given the company's 2024 sales of under $750 million. Granted, it has grown its top line by more than 40% in both of the last two years. That's pretty impressive.
Source Fool.com
