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

Shares of Figure Technologies (FIGR) soared up to 15% following billionaire investor Stanley Druckenmiller's announcement of a $77 million stake in the company. The stock climbed to $46.46 and was recently trading at $44.45, marking a 44% increase since its September IPO amid a broader market slump in crypto firms. Analysts from Bank of America and other institutions have raised their price targets for Figure, citing its transition to a ‘capital-light’ lending model focusing on home equity lines of credit (HELOCs) and the launching of a new yield-bearing stablecoin named YLDS on the Provenance blockchain. Druckenmiller's move signifies increasing institutional interest in platforms that merge blockchain technology and artificial intelligence to enhance consumer lending efficiencies. Figure anticipates a significant portion of its loan volume will stem from its Figure Connect platform, which is expected to reach 60%.

Source 🔗