Figure Technology (FIGR) Sets Fresh Record as Lower Rates Raise Rosy Prospects

We recently published All-Time High Fever: 10 Stocks Soaring and Breaking Records. Figure Technology Solutions, Inc. (NASDAQ:FIGR) is one of the best performers in last week’s trading.

Figure Technology soared by 14.86 percent on Monday to close at $37.33 apiece as investors loaded portfolios ahead of the Federal Open Market Committee (FOMC) meeting this week, which is expected to see a rate cut.

At the intra-day session, the company climbed to its highest price by far of $40.39, marking an already 29.8 percent jump from its closing price of $31.11 during its market debut last Thursday.

Figure Technology Solutions, Inc. (NASDAQ:FIGR), a financial technology firm combining traditional finance and blockchain, is expected to benefit from lower interest rates on the expectation that any move from the Federal Reserve would push more borrowers to tap loans.

Optimism for the company followed its initial public offering last week, which saw it raise $787.5 million through the sale of 31.5 million shares.

Founded in 2018, Figure Technology Solutions, Inc. (NASDAQ:FIGR) leverages blockchain technology to connect lenders and borrowers of home loans.

According to its IPO documents, it funds home equity loans in just 10 days, as compared with the industry average of 42 days.

While we acknowledge the potential of FIGR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.