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$30 billion wiped off Adobe's market value after $20 billion deal to buy Figma
short by Hiral Goyal / on Friday, 16 September, 2022
Shares of Adobe plunged nearly 17% after the Photoshop maker announced a $20 billion cash and stock deal to buy online design startup Figma on Thursday. The biggest plunge in the company's stock since 2010 wiped out more than $30 billion from Adobe's market value. The deal has sparked some concerns among investors who argued that Adobe overpaid for Figma.
read more at Reuters