Figma's 2.72% Drop and $0.4B Volume See It Rank 259th in Market Activity

On September 26, 2025, Figma (FIG) closed down 2.72%, with a trading volume of $0.40 billion, ranking 259th in market activity for the day. The decline occurred amid mixed investor sentiment toward tech stocks following broader market volatility.

Recent developments highlight structural challenges for the design-software firm. A regulatory filing revealed ongoing antitrust investigations into its business practices, raising concerns about potential operational disruptions. Additionally, a partnership announcement with a major cloud infrastructure provider failed to meet analyst expectations, as the collaboration lacked concrete revenue-sharing commitments or long-term integration timelines.

Market participants noted muted reaction to the company’s Q3 earnings guidance, which fell within consensus estimates but omitted commentary on enterprise client growth. Short interest data showed a 12% increase in open short positions over the past two weeks, suggesting growing bearish positioning ahead of the earnings release.

To set up this back-test accurately I still need to clarify three practical details: 1. Market universe • Should we restrict the search for the “top-500 by volume” to a single exchange (e.g., NYSE + NASDAQ US common stocks), or do you want it done globally? 2. Weighting method • Equal-weight each of the 500 stocks for the one-day holding period (the most common choice) – yes/no? • If you prefer another weighting rule (e.g., weight by free-float market cap or by trading-volume itself), please specify. 3. Trade execution price • Buy at that day’s close and sell the next day’s close – or • Buy at next day’s open and sell at that same day’s close – or something else? Once I have those three items I can generate the data-retrieval plan and run the back-test.