Figma (FIG) Drops 7.6% in a Single Session, Erasing $750 Million

As seen on the 24/7 Wall St. homepage on October 16, 2026.

FIG Figma
Regular session
$21.55
-7.63% open $23.33
$23$22$21

A 7.63% slide to $21.55 takes roughly $750 million off Figma's $9.8 billion market cap in a single session. Moves this size in a newly public name set the tone for where it trades next.

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Sellers kept Figma in retreat all session, closing it at $21.55 with no bounce, a sign of conviction rather than a one-off reaction.

Losing roughly $750 million of market cap in one session carries extra weight for a newly public name, because early trading history shapes how institutions size and hold positions.

Figma was already carrying a premium valuation relative to most software peers, and this drawdown compresses that cushion ahead of upcoming reports.

The open question is whether buyers step in at $21.55 or the absent intraday bounce points to more downside, since newly public names without an established range move sharply when sentiment shifts.

Sources

Mentioned: FIG

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FIG Figma
After-hours
$21.50
-7.84% open $23.33
$22$21$21

A 7.84% slide to $21.50 takes roughly $770 million off this design software name in a single session. Moves this size are rare for a newly public stock, and the $23.33 open is now the level to reclaim.

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FIG Figma
After-hours
$22.86
+7.22% open $21.32
$23$23$22

A 7.2% run to $22.87 adds roughly $700 million to Figma's $10.4 billion market value in one session. For a design software name still finding its post-IPO footing, moves this size set the near-term trading range.

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FIG Figma
Regular session
$22.95
+7.64% open $21.32
$23$22$21

A 7.6% intraday move adds real weight to a $10.4 billion market cap in a single session. Swings this size in the newly public design name reset the range fast, so keep an eye on whether it holds into the close.

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Biggest movers · At the close
Gainers
  • ACNAccenture$208.79+6.2%
  • ASANAsana$9.82+5.3%
  • MPCMarathon Petroleum$463.74+4.9%
  • FIGFigma$22.65+4.7%
  • CAVACava$54.51+4.7%
Losers
  • AAOIApplied Optoelectronics$105.33-14.1%
  • COHRCoherent$302.69-9.5%
  • ALABAstera Labs$346.2-9.4%
  • CRWVCoreWeave$81.5-7.9%
  • IRENIren$35.66-7.8%

Optical and data center names filled four of the five worst spots at this close, led by Applied Optoelectronics at -14%. Accenture's 6.2% gain was the best of a far tamer upside.

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