---
title: "US IPO Weekly Winners & Losers"
description: "FOMO has returned to the IPO market with Figma's $1.2 billion IPO, which saw a 250% first-day surge, raising its market cap to $70 billion. This success may encourage more tech listings, including Kla"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/251344546.md"
published_at: "2025-08-03T16:00:50.000Z"
---

# US IPO Weekly Winners & Losers

> FOMO has returned to the IPO market with Figma's $1.2 billion IPO, which saw a 250% first-day surge, raising its market cap to $70 billion. This success may encourage more tech listings, including Klarna's anticipated September IPO. Ambiq Micro also performed well, rising 60% on debut, while Shoulder Innovations faced lukewarm demand. Upcoming IPOs include Firefly Aerospace. The IPO Index fell 1.4%, outperforming the S&P 500's 2.4% decline, with Reddit up 26.1% and Arm down 15.7% on earnings.

“Fear of missing out” (FOMO) has returned to the IPO market.

Design software platform Figma (NYSE: FIG) raised $1.2 billion in the largest VC-backed tech IPO since 2021, and then rocketed **+250%**, the best first-day pop for a billion-dollar IPO **ever**, smashing the record set by Circle a month earlier.

At pricing, the company was valued at $20 billion, right in line with its canceled Adobe buyout two years ago. By the end of its first day of trading, its market cap more than tripled to $70 billion, or 85x trailing sales.

There was a lot to like about this deal. Impressive growth, solid margins, and a strong competitive position are a winning combination. It has a real AI tech stack. But the fundamentals alone can’t explain a move this big. Clearly there is pent-up demand for high-quality growth stocks, and the IPO market has a much larger audience than before.

Figma’s success cements it as one of the headline IPOs of 2025. While not every startup has the same growth profile, it should open the door for more tech listings in the fall. Fintech unicorn Klarna now appears to be targeting a September IPO after previous delays.

Somewhat obscured by Figma’s unicorn-sized shadow, Ambiq Micro (NYSE: AMBQ) also hit the ground running. The AI-focused chipmaker soared +60% in its debut and ended slightly up from there. The second medical device maker in a row, Shoulder Innovations (NYSE: SI), was met with lukewarm demand.

Three sizable IPOs are scheduled for next week, led by space tech developer Firefly Aerospace (Nasdaq: FLY). We could see a couple more launches for mid-August pricings, but don’t expect too much from the calendar until bankers return from their annual summer vacations.

Tariff rollouts and a bad jobs report weighed on markets near the end of the week. The IPO Index slid -1.4%, beating the S&P 500’s -2.4%. Social media platform **Reddit** jumped +26.1% and chipmaker **Arm** fell -15.7%, both on earnings.

The Renaissance IPO Index returned \-1.4% last week vs. \-2.4% for the S&P 500.

### Related Stocks

- [AMBQ.US - Ambiq Micro](https://longbridge.com/en/quote/AMBQ.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Ambiq Micro Appoints Michele Connors as General Counsel | Ambiq Micro Inc. has appointed Michele Connors as General Counsel. Connors has over 20 years of legal experience, having | [Link](https://longbridge.com/en/news/272400403.md) |
| Ambiq Micro Appoints Dr. Bernard B. Banks to Board of Directors | Ambiq Micro Inc. has appointed Dr. Bernard B. Banks to its Board of Directors, expanding the board from six to seven mem | [Link](https://longbridge.com/en/news/271983753.md) |
| CICC Reaffirms Their Buy Rating on NIO Inc. Class A (9866) | CICC analyst maintained a Buy rating on NIO Inc. Class A yesterday and set a price target of HK$50.00.Valentine's Day Sa | [Link](https://longbridge.com/en/news/275967598.md) |
| Olympics-Ice hockey-Durante dazzles despite Italy exit to US | Italy's goalie Gabriella Durante delivered an outstanding performance despite Italy's exit from the women's Olympic ice  | [Link](https://longbridge.com/en/news/275954373.md) |
| Westfuller Advisors LLC Has $5.96 Million Stake in NVIDIA Corporation $NVDA | Westfuller Advisors LLC increased its stake in NVIDIA Corporation (NASDAQ: NVDA) by 33.8% in Q3, now holding 31,955 shar | [Link](https://longbridge.com/en/news/275977152.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.