Figma plunge sounds warning to Canva investors

When Australian design software giant Canva’s smaller rival Figma made a stellar Wall Street debut with a 250 per cent opening day pop it was widely seen as a sign that the public markets were ravenous for more.

One month and four days later, after Figma lodged its first quarterly earnings as a public company, things look markedly different.

Figma’s shares rocketed more than 250 per cent to $US115.50 ($179.64) in the biggest first-day gain in more than three decades for a US traded company. But they then dropped back 40 per cent, and on Thursday tumbled 14 per cent further to $US58.44 after its earnings call.

Source: https://www.afr.com/technology/figma-plunge-sounds-warning-to-canva-investors-20250902-p5mrup