Figma's $580M Trading Volume Plummets 49.6% to 158th in Market Activity Amid Post-IPO Slide

On August 8, 2025, Figma (FIG) reported a trading volume of $0.58 billion, a 49.6% decline from the previous day, ranking 158th in market activity. The stock closed down 0.17%, reflecting ongoing pressure following its volatile post-IPO trajectory.

Figma’s shares, which surged 250% on their debut in July 2025, have since retraced much of that gains, trading below $85—the price at which they first opened. The stock’s peak valuation of $60 billion has eroded to approximately $39 billion, a $21 billion drop. Analysts attribute the sharp correction to speculative fervor driven by limited liquidity, as only 7% of the company’s shares were initially available for trading. This imbalance amplified short-term volatility, drawing comparisons to other high-profile IPOs like CoreWeave and Circle Internet Group, which also saw sharp gains followed by pullbacks.

The design software firm’s current price-to-sales ratio of 37 remains elevated relative to peers such as Adobe and Shopify, which trade at multiples under six. While Figma’s financials—including $749 million in 2024 revenue and 53% annual growth—remain robust, the stock’s valuation suggests market expectations are still outpacing fundamentals. This dynamic underscores the role of social media-driven sentiment and retail investor behavior in shaping its post-IPO performance.

A backtested strategy of purchasing the top 500 stocks by daily trading volume and holding for one day achieved a 166.71% return from 2022 to the present, significantly outperforming the benchmark’s 29.18%. This highlights the influence of liquidity concentration in volatile markets, where high-volume stocks like Figma can amplify momentum-driven returns. However, the strategy’s success is contingent on sustained market conditions and carries inherent risks tied to short-term volatility.