Figure Stock Rallies as Stan Druckenmiller Pours In $77M and Analysts Boost Targets

Shares of Figure Technologies (FIGR) rallied on Monday after billionaire investor Stanley Druckenmiller disclosed a sizable new stake in the blockchain-powered lending firm founded by SoFi co-founder Mike Cagney. The stock surged as much as 15% to $46.46 and was last up 10% at $44.45. With the latest move, Figure is now up 44% since its September Nasdaq debut—outpacing several other crypto-affiliated companies that have fallen below their IPO prices amid broader market softness.

Druckenmiller’s Duquesne Capital reported in its latest 13F filing on Friday that it acquired more than 2.1 million shares of Figure in the third quarter. The position, worth roughly $77 million, accounts for about 1.9% of the firm’s overall portfolio. Druckenmiller, renowned for spotting emerging macro and technology trends, is seen as lending credibility to the growing institutional interest in companies that combine blockchain and AI to streamline consumer lending.

Analysts at Bank of America, Mizuho and Piper Sandler have recently raised their price targets for Figure, pointing to the company’s shift toward a “capital-light” model built around home equity lines of credit (HELOCs). In its third-quarter earnings, Figure projected that its Figure Connect marketplace will drive 60% of total loan volume, up from 46% the prior quarter—signaling accelerating adoption of the platform.

Mizuho analyst Dan Dolev also highlighted Figure’s stablecoin efforts as a notable advantage. The company recently launched YLDS, a yield-bearing stablecoin on the Provenance blockchain, aiming to attract investors looking for digital-dollar yields and to offer an alternative as capital continues moving away from traditional banking channels.

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