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Why Figma Stock Lost 39% in August

TheMotleyFool

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After skyrocketing on its opening day of trading on July 31, Figma (NYSE: FIG) gave back some of those early gains last month as the software stock searched for equilibrium following the year's biggest initial public offering (IPO).

According to data from S&P Global Market Intelligence, the stock finished the month down 39%. As you can see from the chart below, it tumbled early in the month as it pulled back from the initial frenzy, and shares traded mostly flat over the duration of the month after it fell.