Figma’s preliminary public providing this week was a boon for buyers. Effectively, some buyers.
When shares of the design software program startup began buying and selling on Thursday, they instantly went to the moon. After being priced at $33, the inventory closed at $115.50 a share, a rise of round 250%. That meant some severe returns for buyers, not less than those who have been capable of get in on the motion.
However complaints and experiences surfaced yesterday amongst some Robinhood customers who say missed out, as they weren’t capable of buy as a lot Figma inventory as they’d’ve appreciated.
A number of customers took to social media to air their grievances, claiming that that they had tried to purchase many Figma shares after they hit the market through Robinhood, however have been solely granted a single share. For example, one consumer, posting on X, claimed to obtain just one share after requesting 3,000.
The problem sparked quite a few memes all through the day on Thursday as Figma’s blockbuster IPO dominated monetary headlines.
“mother, how are we so wealthy?”
“your dad bought his 1 figma share robinhood allotted him within the $fig ipo” pic.twitter.com/FR96C4IxeT
— Alex Kehr (@alexkehr) July 31, 2025
It could have occurred as a result of Robinhood, like different buying and selling platforms, solely receives a sure variety of shares when an organization goes public.
“We obtain a restricted variety of shares for every IPO,” reads an article from Robinhood’s assist group. “We use the variety of shares, buyer demand, and different elements to find out what number of shares you’ll get. You might get the complete variety of shares you requested, a partial quantity, or none in any respect.”
So Robinhood does make it pretty clear that simply because a consumer is requesting shares, it doesn’t imply that they’ll essentially get them. On this case, as demand outstripped provide—possible exceedingly so—the corporate could have needed to divvy the inventory out accordingly, no matter what number of customers truly requested.
Quick Firm has reached out to Robinhood for remark and clarification.
Just a few days earlier than Figma’s itemizing on Thursday, Bloomberg reported that its IPO was approaching 40 occasions oversubscribed, reflecting what was largely anticipated to be huge demand for the inventory.
Robinhood has drawn the ire of customers up to now because of issues across the restricted buying and selling of sure shares. Notably, it occurred in 2021, when the platform restricted purchases of GameStop and AMC shares (amongst others) in the course of the so-called meme inventory rally.
However the Figma IPO is maybe one other instance of how retail buyers, relative to institutional buyers, can find yourself getting the brief finish of the stick.
There might not be a lot that buyers can do about that, however for many who missed out on Figma’s IPO worth, it’s a reminder that entry to the markets—as a retail investor utilizing a buying and selling app or platform—might not be as unfettered or democratic as we’d wish to assume.
Figma shares opened even larger on Friday, at one level hitting near $143.
