Figma stock pops in second day of trading after colossal debut

Shares of the design software company Figma surged by 6% on Friday, following an astonishing debut where its stock price more than tripled on the New York Stock Exchange. Initially priced at $85 when it launched under the ticker symbol FIG on Thursday, Figma's shares closed at an impressive $115.50, marking a staggering 250% increase. As trading continued on Friday, the stock climbed even higher, surpassing $120. Figma's successful entry into the public market comes after a prolonged period of inactivity in the IPO sector. The company joins a growing list of tech firms that have recently gone public, including CoreWeave, a provider of AI infrastructure, which debuted in March, and Hinge Health, a digital physical therapy company, that followed in May. In June, other notable public offerings included stablecoin issuer Circle, virtual chronic care provider Omada Health, and online banking service Chime. Last week, Figma updated its prospectus, initially projecting a share price between $25 and $28. However, the company later revised this expectation to a range of $30 to $32, ultimately pricing its shares at $33, exceeding its revised projections. Founded in 2012, Figma's journey to this moment almost took a different turn. In 2022, Adobe attempted to acquire the company for a staggering $20 billion, but the deal collapsed following concerns from U.K. regulators over potential anticompetitive effects. Currently, Figma holds the 45th position on CNBC's 2025 Disruptor 50 list of private companies.