Figma began trading on the New York Stock Exchange on Thursday after a long delay. It soared to so quickly that trading was halted for a short time due to market volatility.
The price is currently bouncing between $101-$112 with a mid-day market cap of $45 billion, Yahoo Finance reports.
The company and existing investors sold shares at the IPO price of $33 per share. Quite the pop.
There has been so much demand for this stock that people on X are posting funny pictures of their orders being fulfilled by Robinhood. Instead of getting dozens or hundreds of shares as requested, they are being allocated one solitary share, they say. (One person bragged about getting 17 shares.)
In any case, the successful IPO means Figma’s failed $20 billion acquisition by competitor Adobe in 2023 is now just a shoulder-shrug footnote in the company’s history.