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Shares of Figma (FIG 5.43%) 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.
Touted by some as the David to Adobe's Goliath, design software upstart Figma's (FIG) market value could be catching up to that of the company that nearly acquired it more quickly than even it expected.
Investors and bankers are wondering why the software company didn't price its shares higher to capitalize on fervent demand.
Figma's initial public offering this week was a boon for investors. Well, some investors.
Figma stock exploded out of the IPO block Thursday – and trades about 255% above its offering price of $33, according to Yahoo! Finance.
Figma stock was rising again after the biggest ever first-day gain for an IPO which raised more than $500 million.
Interface design software company Figma (NYSE:FIG) made a stellar debut on the public markets on Thursday, July 30, with its stock soaring more than 3x its IPO price of $33 to close at $115.50 per share. This values the company at more than $55 billion based on the outstanding shares listed in its filings.
CNBC's Andrew Ross Sorkin reports on the latest news.
Jim Cramer, American author, journalist, and host of CNBC's Mad Money, is once again living up to his title of Wall Street's leading inverse indicator.
Design software maker Figma's shares rose another 10% in premarket trading on Friday, extending strong debut-day gains after a blowout U.S. initial public offering that has reignited the tech listing market.