Figure (FIGR) Stock Jumps as Druckenmiller Invests $77M, Analysts Raise Price Targets
Shares of Figure Technologies (FIGR), a blockchain-focused lending platform founded by SoFi co-founder Mike Cagney, surged as much as 15% on Monday after billionaire investor Stanley Druckenmiller disclosed a sizable new stake in the company.
The stock rose to as high as $46.46 and was recently up 10% at $44.45. It has gained 44% since its Nasdaq debut in September at a time when other crypto-linked firms that went public this year are trading below their offering prices. Crypto markets have remained soft in recent months, dragging down valuations across the sector.
According to Duquesne Capital’s latest 13F filing on Friday, founder Druckenmiller added over 2.1 million shares of Figure during the third quarter, a position now worth…
