Figma started trading on the New York Stock Exchange on Thursday after a long delay. The stock surged so rapidly that trading was briefly paused due to market volatility.
The share price fluctuated between $101 and $112 during midday trading, with the company reaching a market capitalization of $45 billion, according to Yahoo Finance.
Figma and its existing investors sold shares at an initial public offering price of $33 per share, marking a significant jump in value.
Demand for the stock has been exceptionally high, with social media users sharing humorous posts about their order experiences. Some investors requested dozens or even hundreds of shares through platforms like Robinhood but received only a single share. One user proudly mentioned receiving 17 shares.
Despite the excitement surrounding the IPO, Figma’s failed $20 billion acquisition by Adobe in 2023 now seems like a minor footnote in the company’s history.