What Happened?
Shares of healthcare apparel company Figs (NYSE: FIGS) jumped 7.6% in the afternoon session after an analyst at Raymond James highlighted the company's positive momentum following meetings with management.
The firm's analyst, Rick Patel, noted the positive tone of the meetings, which gave him greater optimism that the company's momentum from the first half of 2025 would continue into the second half. The company's own outlook had factored in some softness due to fewer promotions planned. However, the analyst pointed out to investors that reduced discounting in the first half of the year had already led to better-than-expected results. Despite the positive comments, the firm maintained its Market Perform rating on Figs' stock.
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What Is The Market Telling Us
Figs’s shares are very volatile and have had 28 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 20 days ago when the stock dropped 3.2% as investors appeared to take some profits following a recent rally, coupled with broader concerns about a potential slowdown in consumer spending.
Figs is up 23.3% since the beginning of the year, and at $7.26 per share, it is trading close to its 52-week high of $7.44 from September 2025. Investors who bought $1,000 worth of Figs’s shares at the IPO in May 2021 would now be looking at an investment worth $241.84.
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