Shares of design software firm Figma (FIG) plunged 23% on Monday, following a 250% gain during its market debut. The company had a market capitalization of $56.3 billion but dropped to $45.2 billion as shares fell to $92.75. CEO Dylan Field owns 54.2 million shares worth $5 billion and retains 74.1% voting power. Adobe abandoned a $20 billion deal to acquire Figma in 2023 due to antitrust concerns.

Read more at Yahoo Finance: Figma sheds $11 billion in market value days after blockbuster IPO