IPO Star Figma: Reasons Behind the 1 Trillion Won Loss in Just One Day

Figma (FIGMA INC: FIG) closed down 6.46% at $29.58 on the New York Stock Exchange on the 16th. Its market capitalization stands at roughly $12.3 billion (about ₩16 trillion), erasing approximately $750 million (around ₩1 trillion) in a single day. Trading volume topped 9.3 million shares, a notable increase over typical levels.

With the first post-IPO lock-up expiration approaching on January 27—Figma’s first since its July listing—concerns over insider selling and profit-taking have intensified. In early and mid-January, multiple Form 144 filings by insiders signaled potential share disposals, exacerbating overhang worries.

Figma is a software company offering a browser-based collaborative design platform that unifies UI/UX design, prototyping and whiteboarding, driving its rapid growth. Before its July 2025 IPO on the NYSE, Adobe’s $20 billion acquisition bid was blocked by regulators. Since then, Figma has sought to expand its footprint through AI-powered design and website-building tools and by acquiring complementary startups.