Figma's stock soared 250% in its IPO, valuing the company at over $50 billion, despite a subsequent 20.7% drop.

Figma Inc's stock surged 250% in its initial public offering (IPO), valuing the company over $50 billion, despite a 20.7% dip on its first trading day. CEO Dylan Field set the IPO price at $33 to attract long-term institutional investors, a strategy influenced by the offering size and specific priced orders, which excluded many retail investors. This decision was seen as beneficial for securing high-quality, long-term shareholders.