Figure (FIGR) Stock Jumps as Druckenmiller Invests $77M, Analysts Raise Price Targets

Shares of Figure Technologies (FIGR) rose by 15% after billionaire investor Stanley Druckenmiller revealed a $77 million stake in the company, now comprising 1.9% of his portfolio. This surge comes amidst a broader market slump affecting other crypto-linked firms. Analysts have raised Figure's price targets due to its successful capital-light model for home equity lines of credit (HELOC) and innovative use of AI and blockchain technology to reduce operational costs. Figure's stock has gained 44% since its IPO in September. Druckenmiller's investment highlights increasing institutional interest in platforms that integrate blockchain with traditional lending. The company has also introduced a yield-bearing stablecoin, YLDS, on its Provenance blockchain, aimed at attracting capital away from traditional banking systems. This shift signals promising growth prospects for Figure Technologies against the backdrop of a challenging crypto market.

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