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

Shares of Figure Technologies surged by as much as 15% after billionaire investor Stanley Druckenmiller disclosed a $77 million stake in the company, accounting for 1.9% of his portfolio. The stock, priced at $44.45, has seen a 44% rise since its September IPO, contrasting with the decline in other crypto-linked firms. Druckenmiller's investment signals a growing institutional interest in financial platforms leveraging blockchain and AI for streamlined lending. Analysts from firms like Bank of America and Mizhou have raised price targets for Figure, emphasizing its 'capital-light' home equity lines of credit (HELOC) model and a new stablecoin strategy. The company recently launched YLDS, a yield-bearing stablecoin designed to attract capital away from traditional banks. Figure's CEO noted that their Figure Connect platform is expected to drive a significant portion of loan volume, indicating a positive shift in operational strategy amidst a broader market slump in the crypto sector.

Source 🔗