High Beta ETF hits peak, target downgraded, Q2 earnings track 5% growth

Jul 21, 2025 6:26 PM ISTUS Stock Market LIVE Updates: Figma, Backers Seek $1 Billion in IPO After Adobe Deal NixedFigma Inc. and some of its investors are seeking to raise as much as $1.03 billion in a US initial public offering, as the app design and collaboration software company readies what could be one of the biggest listings of the year.
 
A listing for San Francisco-based Figma could give it a market value of up to $13.6 billion, based on a Monday filing with the US Securities and Exchange Commission. That’s below the $20 billion valuation it would have fetched in a planned sale to Adobe Inc. that fell apart in 2023.
 
Figma plans to market 12.47 million shares at $25 to $28 apiece, the filing shows. Investors plan to sell 24.46 million shares at that range. Accounting for employee stock options and restricted stock units, the company would have a fully diluted value of roughly $14.5 billion or more.
 
IPOs on US exchanges are racing to regain their momentum after being derailed during April’s tariff-driven market slump. Retail market research firm NIQ Global Intelligence Plc, textbook publisher McGraw Hill Inc., insurance company Accelerant Holdings and medical-device company Carlsmed Inc. all launched IPOs last week, putting them on track to price and debut in the coming week.

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