Figma Rises, Cerebras Roars After Year's Biggest IPO, Cisco Jumps Most Since 2011

Figma Rises, Cerebras Roars After Year's Biggest IPO, Cisco Jumps Most Since 2011

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Figma (FIG) gave an outlook for revenue in the current period that topped analysts’ estimates, touting early traction from charging users directly for AI features. The shares jumped about 10% in extended trading after closing at $20.24 in New York. The stock has declined steadily since the Figma’s blockbuster public offering and is now 39% below the $33-a-share IPO price.

- Cerebras (CRBS) shares jumped 68% in its trading debut after raising $5.5 billion in the year’s largest IPO, illustrating investors’ surging appetite for artificial intelligence data centers and the chips running them. Shares of the Sunnyvale, California-based company pared earlier gains to close at $311.07 each on Thursday in New York, above the $185 IPO price, after being halted earlier for volatility. Cerebras’ first-time share sale raised nearly 60% more than its target when it launched, and priced above a marketed range that was revised higher on Monday.

- Cisco (CSCO) jumped by the most in more than 14 years after the company delivered a better-than-anticipated sales forecast and announced plans to cut thousands of jobs, an attempt to focus on the fast-growing AI market.

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