Cathie Wood and Ark Invest have officially jumped into the Figma (FIG) IPO frenzy, snapping up 60,000 shares of the San Francisco-based software firm and allocating the entire purchase to the ARK Next Generation Internet ETF (ARKW). The move reflects Wood's signature strategy of targeting disruptive, high-growth technology names.
FIG debuted on the New York Stock Exchange last week 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. The momentum continued on Friday, with shares rising another 5.8% despite broader market weakness, before a 27% stock slump on Monday.
