Figma Stock Rises 35% Weekly After OpenAI Announcement

Figma's stock experienced a significant recovery this week, surging after OpenAI highlighted its integration with ChatGPT at the DevDay conference.

After reaching a peak of $122 on August 1, Figma's shares entered a prolonged decline, losing over 50% of their value and hitting a low near $50 last Wednesday. This persistent downtrend made investors cautious, but the stock has shown renewed strength in recent days.

Over the past week, Figma gained 35%, including a notable 14% increase on Wednesday, indicating a potential turnaround for the struggling software maker.

The sudden shift in sentiment was driven by OpenAI CEO Sam Altman's presentation at the DevDay conference in San Francisco, where he demonstrated Figma's integration with ChatGPT, which now has over 800 million monthly users.

Altman emphasized the new Apps SDK, allowing third-party apps like Figma to directly connect to ChatGPT's interface. He illustrated the integration with a practical example.

Following Altman's remarks, Figma's shares rose to $69.75, breaking above the 20-day simple moving average (SMA) that had been a persistent ceiling during the decline. This breakout suggested a potential shift in market sentiment, possibly marking the end of the stock's multi-month downtrend.

Figma's rebound highlights how quickly investor perception can change when a company's technology receives high-profile validation. While it remains uncertain if this rally will sustain in the long term, breaking key resistance levels suggests that bullish momentum could continue if investor confidence grows further.