Figma Dips Below IPO Price Less Than Four Months After Debut

Figma Inc.’s stock briefly fell below its initial public offering price for the first time, becoming just the latest of this year’s high-flying listings to retrace its eye-popping early gains.

Shares in the design software firm traded as low as $32.83 each on Friday, below the $33 mark at which its heavily oversubscribed $1.4 billion IPO was priced in late July. The stock recovered to $34.12 as of 12:22 p.m. in New York.