Figma (FIG) Drops 7.8% After Hours, Erasing Nearly $770 Million in Value
As seen on the 24/7 Wall St. homepage on October 16, 2026.
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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Figma slid roughly 7.8% in after-hours trading, stripping close to $770 million from its market value in a single session. For a stock that only recently entered public markets, a move that sharp stands out.
Prices then held in a tight band near $21.50 for much of the extended session, with sellers easing off and buyers staying on the sidelines.
The $23.33 open now sits as the immediate level to reclaim. Until the stock can push back through that price, the day's action represents a clear change of sentiment that the market has not yet reversed.
Newly public stocks carry less of a trading history for investors to lean on when assessing whether a drop of this size reflects a fundamental shift or simply thin after-hours liquidity amplifying normal volatility. That ambiguity makes the next regular-session open a meaningful data point for anyone following this name.
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Mentioned: FIG