Figma began trading on the New York Stock Exchange on Thursday after a long delay. The stock surged so rapidly that trading was temporarily halted due to market volatility. Within the first minute, its market capitalization reached $45 billion, with the price fluctuating between $101 and a peak of $124 throughout the day. It ultimately closed at $115.50, giving the company a market cap of $47 billion, according to Yahoo Finance.
The company and existing investors sold shares at the IPO price of $33 per share, marking a significant jump. After-market trading remained strong, with the stock price continuing to climb.
Demand for Figma shares was so high that users on social media shared humorous posts about their orders being fulfilled by Robinhood. Many expected dozens or even hundreds of shares but received just one. One person, however, boasted about securing 17 shares.
Despite the excitement, Figma’s failed $20 billion acquisition by Adobe in 2023 now seems like a minor footnote in the company’s history, overshadowed by its successful public debut.