On July 2, Figma rose 5.28% in regular trading, trading at $20.39/share, with turnover of $50.54 million. The gain came as the application software sector continued its broader valuation recovery trend.

On the news front, market sentiment toward traditional software companies has improved following reports that OpenAI may delay its IPO due to financial challenges. Investors are reassessing the degree to which AI threatens existing software businesses. RBC Capital Markets analysts noted that the narrative of enterprises fully replacing current software solutions with AI is unrealistic, suggesting the most pessimistic period for the sector may have already passed.

Within the Application Software sector, peers showed mixed but largely positive performance: Strategy rose 9.48%, Circle Internet Corp. gained 7.87%, and Palantir Technologies advanced 4.05%, while IREN Ltd slipped 0.89% and AppLovin fell 0.92%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)