Figma’s Red-Hot Debut Pulled Cathie Wood into Buying 60K Shares
Cathie Wood and Ark Invest jumped into the Figma IPO frenzy on Thursday, snapping up 60,000 shares of the San Francisco-based software firm.
The entire purchase was allocated to the ARK Next Generation Internet ETF (BATS:ARKW), a fund that targets disruptive, high-growth technology names, a hallmark of Wood’s investment philosophy.
FIG debuted on the New York Stock Exchange at 2 p.m. EDT and quickly soared over 200%, surpassing $105 per share. By the end of its first trading day, the stock closed at $115.50, marking a noteworthy 250% gain.
Despite broader market weakness on Friday, Figma’s momentum appears to be holding strong.FIG's shares have risen another 5.8% today, reinforcing investor enthusiasm around the company’s potential in the collaborative design space.
For now it remains to be seen whether Wood and her team will expand their stake in FIG through ARKW or one of the firms other flagship ETFs, including the ARK Innovation ETF (BATS:ARKK).
Known for backing disruptive technologies, Wood’s swift investment in Figma reflects her confidence in the company’s strong brand presence and widespread developer adoption.
Year-to-date price action: FIG +250%, ARKW +46.3%, and ARKK +32.6%.
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