Figma’s Trading Volume Plummets to $360M Slips to 313th in Dollar Volume Rankings

Figma (FIG) closed on September 25, 2025, with a 1.49% decline, marking its lowest daily volume in recent trading sessions. The stock reported a trading volume of $0.36 billion, a 30.94% drop from the previous day, ranking it 313th in dollar volume among listed equities. This performance reflects reduced investor activity despite ongoing discussions around its product roadmap and enterprise adoption trends.

Analysts noted that the pullback may be attributed to mixed signals from market participants assessing the company’s strategic direction. While Figma’s collaboration tools remain competitive in design software, uncertainty around monetization strategies for its free-tier users has tempered investor confidence. Additionally, broader market sentiment toward high-growth tech stocks appears to have shifted, with capital flows favoring sectors with clearer short-term revenue visibility.

To run this back-test accurately I need to pin down a few details that weren’t specified: 1. Universe • Which market(s) should be scanned each day to select the 500 highest-volume stocks? - Example choices: all U.S. common shares (NYSE + NASDAQ + AMEX); only S&P 500 constituents; a specific regional exchange, etc. 2. Weighting & capital allocation • Equal-weight (1/500 each day) or volume-weighted / value-weighted? • Starting capital (e.g., USD 1 million) and whether to reinvest daily P&L. 3. Transaction assumptions • Slippage / commissions per trade, if any. • Whether to ignore stocks with price below a threshold (illiquidity filter). 4. Price used for entry/exit • Open-to-close, close-to-close, or another convention. (Most studies use close-to-close when volume is ranked on yesterday’s close.) If you’re happy with the following default settings I can proceed immediately: • Universe: all U.S. listed common shares (NYSE, NASDAQ, AMEX) that were trading on the ranking day. • Rank each trading day by previous day’s dollar volume (close × shares). • Buy the top 500 tickers at today’s open, sell at today’s close (holding period = 1 day). • Equal-weight among the 500 names. • No transaction costs. • Back-test period: 2022-01-03 to the latest available data (today). • Performance measured in USD, reinvesting daily.