By Chibuike Oguh NEW YORK (Reuters) -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,

But on its first day of trading, Figma stock quickly skyrocketed as high as $125 per share, giving the company a market valuation of over $60 billion -- higher than the valuation for household names like Chipotle Mexican Grill and General Motors.

Figma (NYSE:FIG) stock dropped 27.4% to $88.60/share on Monday, its third day of trading, significantly paring gains since its blockbuster IPO last week. The design software maker's shares had more than tripled to $115.