Figma Stock Soars 35% Weekly on OpenAI Spotlight – Is the Worst Over?
Figma’s stock staged an impressive comeback this week, soaring after OpenAI spotlighted its integration with ChatGPT at its DevDay conferenc
Quick overview
- Figma's stock rebounded significantly this week after OpenAI showcased its integration with ChatGPT at the DevDay conference.
- The stock, which had dropped over 50% from its peak, surged 35% in the past week, indicating a potential turnaround.
- OpenAI's CEO highlighted Figma's capabilities, positioning it as a key player in the AI-powered app ecosystem.
- Breaking past key resistance levels suggests that bullish momentum may continue if investor confidence remains strong.
Figma’s stock staged an impressive comeback this week, soaring after OpenAI spotlighted its integration with ChatGPT at its DevDay conference.
From Summer Slide to Sharp Recovery
After peaking at $122 on August 1, Figma’s shares entered a prolonged decline, shedding over 50% of their value and bottoming out near $50 last Wednesday. The relentless downtrend left investors cautious, but the stock showed renewed strength in recent days.
Over the past week alone, Figma gained 35%, including a remarkable 14% surge on Wednesday, signaling what could be the beginning of a turnaround for the embattled software maker.
OpenAI’s Endorsement Sparks Rally
The sudden change in sentiment was fueled by OpenAI CEO Sam Altman’s presentation at the DevDay conference in San Francisco, where he demonstrated Figma’s integration with ChatGPT, which now boasts more than 800 million monthly users.
Altman highlighted the new Apps SDK, which allows third-party apps like Figma to plug directly into ChatGPT’s interface. He illustrated the integration with a practical example:
“You could sketch out a product flow for ChatGPT and then say, Figma, turn this sketch into a workable diagram. The Figma app will take over, respond, and complete the action.”
This public endorsement positioned Figma as a key player in the expanding AI-powered app ecosystem, igniting investor optimism about its future growth prospects.
Technical Picture: Breaking Past Resistance
Following Altman’s remarks, Figma’s shares climbed to $69.75, breaking above the 20-day simple moving average (SMA) that had acted as 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.
Outlook: Has the Bottom Been Found?
Figma’s rebound underscores how quickly investor perception can shift when a company’s technology gains high-profile validation. While it remains to be seen whether this rally will sustain in the longer term, breaking key resistance levels suggests that bullish momentum could continue if investor confidence grows further.
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