Figma’s shares sink after IPO’s overvoltage last week

Figma The shares dropped by 23% on Monday, leaving the profits that the Design Software Company published after hitting the market last week.

The action dropped from $ 27.50 to $ 94.50 by noon. This is nearly $ 122 on Friday.

Figma and Top Shareholders sold about 37 million shares to $ 33 per share Late Wednesday, getting about $ 412 million in revenue that flows to the company. On Thursday, his first day of trading on the New York Stock Exchange, the shares More than a tripleS

The initial intake shows a updated appetite for Wall Street for high -growth technology companies after a historically slow stretch for initial public offers.

Figma said in an updated IPO prospect that it expects the second quarter revenue to increase by about 40% compared to a year earlier. But unlike many technology companies that have become public over the last few years, Figma has regularly made profits.

Figma’s fully diluted estimate is about $ 56 billion, almost triple the amount Adobe agreed to pay in its offer of acquisition in 2022. Regulators in the European Union and the United Kingdom opposed the deal the two companies excuses At the end of 2023

Dylan Field, the 33-year-old CEO of Figma, Holds shares In the company worth over $ 5 billion even after the sliding on Monday.