{"slug":"figma-lockup-expiration","qid":"release_ladder","label":"release_ladder","post_title":"figma-lockup-expiration","post_url":"/blog/figma-lockup-expiration#q-release_ladder","columns":["label","volume_ratio","five_session_pct","twenty_session_pct"],"rows":[{"label":"Sep 5 2025 employee release","volume_ratio":2.59,"five_session_pct":-2.73,"twenty_session_pct":-2.79},{"label":"Nov 7 2025 IPO lockup ends","volume_ratio":3.6,"five_session_pct":-16.2,"twenty_session_pct":-18.12},{"label":"Feb 20 2026 tranche 2","volume_ratio":2.56,"five_session_pct":13.65,"twenty_session_pct":-8.24},{"label":"May 18 2026 tranche 3","volume_ratio":1.96,"five_session_pct":-4.19,"twenty_session_pct":-21.55},{"label":"Aug 7 2026 final tranche","volume_ratio":1.29,"five_session_pct":6.05,"twenty_session_pct":0.63}],"shape":"ranking","sql":"WITH bars AS\n(\n    SELECT\n        date,\n        volume,\n        close,\n        avg(volume) OVER (ORDER BY date ROWS BETWEEN 20 PRECEDING AND 1 PRECEDING) AS avg_volume_20,\n        row_number() OVER (ORDER BY date)                                          AS seq\n    FROM\n    (\n        SELECT\n            date,\n            argMax(toFloat64(volume), _ingest_time) AS volume,\n            argMax(toFloat64(close), _ingest_time)  AS close\n        FROM global_markets.stocks_daily_aggs\n        WHERE ticker = 'FIG'\n          AND date >= '2025-07-31'\n        GROUP BY date\n    )\n),\nreleases AS\n(\n    SELECT\n        tupleElement(r, 1)         AS label,\n        toDate(tupleElement(r, 2)) AS release_date,\n        toDate(tupleElement(r, 3)) AS base_date\n    FROM\n    (\n        SELECT arrayJoin([\n            ('Sep 5 2025 employee release', '2025-09-05', '2025-09-04'),\n            ('Nov 7 2025 IPO lockup ends',  '2025-11-07', '2025-11-06'),\n            ('Feb 20 2026 tranche 2',       '2026-02-20', '2026-02-19'),\n            ('May 18 2026 tranche 3',       '2026-05-18', '2026-05-15'),\n            ('Aug 7 2026 final tranche',    '2026-08-07', '2026-08-06')\n        ]) AS r\n    )\n),\nkeyed AS\n(\n    SELECT\n        rel.label        AS label,\n        rel.release_date AS release_date,\n        rel.base_date    AS base_date,\n        b.seq            AS release_seq\n    FROM releases AS rel\n    INNER JOIN bars AS b ON b.date = rel.release_date\n)\nSELECT\n    k.label AS label,\n    round(anyIf(b.volume / b.avg_volume_20, b.date = k.release_date), 2)                                                      AS volume_ratio,\n    round(100 * (anyIf(b.close, toInt32(b.seq) = toInt32(k.release_seq) + 5)  / anyIf(b.close, b.date = k.base_date) - 1), 2) AS five_session_pct,\n    round(100 * (anyIf(b.close, toInt32(b.seq) = toInt32(k.release_seq) + 20) / anyIf(b.close, b.date = k.base_date) - 1), 2) AS twenty_session_pct\nFROM keyed AS k\nCROSS JOIN bars AS b\nGROUP BY label, k.release_seq\nORDER BY k.release_seq","computed_at":"2026-09-25T15:02:34.613828+00:00","elapsed":0.15177664}