Figma's stock price soared 5.16% during intraday trading on Wednesday, marking a significant rebound.

The surge follows a 6% decline on Tuesday, which was driven by market concerns after reports that AI company Anthropic is preparing to launch a competitive AI-powered design tool. The subsequent rebound appears to be fueled by a relief rally and news that board member Mike Krieger resigned effective immediately. The company clarified that his departure was not due to any disagreement over Figma's operations, policies, or practices, potentially removing an element of uncertainty for investors.