Design software maker Figma extends gains after blockbuster NYSE trading debut [Yahoo! Finance Canada]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Yahoo! Finance Canada
Friday, extending strong debut-day gains after a blowout U.S. initial public offering that has reignited the tech listing market. The San Francisco, California-based company's shares closed at $115.5 on Thursday, compared with its IPO price of $33. The 250% surge lifted Figma's market value to nearly $68 billion, far exceeding the $20-billion valuation in a now-scrapped buyout deal with Photoshop maker Adobe. Figma's $1.22-billion offering, the fourth-largest U.S. IPO of the year, is being seen as a potential catalyst for other startups eyeing a flotation after a three-year freeze in the tech listings market. The deal's strong reception renewed hopes of a broader reopening of the pipeline, as private companies and investors look to capitalize on improving market conditions and strong demand for growth names. Figma, which has highlighted its focus on AI, has also benefited from Wall Street's enthusiasm for the technology. The boom fueled a sharp rally in tech stocks over the pa
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