Figma sheds $11 billion in market value days after blockbuster IPO
Shares of Figma slumped 23% on profit taking on Monday, as euphoria over the design software firm waned days after its blockbuster initial public offering.
San Francisco, California-based Figma shares had scored a massive 250% gain during their market debut on Thursday when they were priced at $33 but finished at $115.50, giving the company a market capitalisation of about $56.3 billion.
