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Is FIGS Inc. a Buy Under $25? -Breaking

by Mike Robinson

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© Reuters. FIGS Inc. is a buy under $25

Healthcare apparel company FIGS, Inc.’s (FIGS) shares plunged in price following the CFO’s December 10 retirement announcement and are currently trading at less than $25. However, it raised its revenue outlook in fiscal 2021. It is therefore a smart move to purchase the dip in stock. Read on.Direct-to-consumer healthcare apparel and lifestyle company FIGS, Inc. (FIGS) made a stellar stock market debut on May 27, 2021. The company’s stock price soared by nearly 29% that day. Its value was $4.57 Billion. FIGS also increased its revenue outlook in fiscal 2021. This year’s expected revenue will be $410million, up from the previous $395 million.

However, the stock has lost 26.4% in price over the past month and 41% over the past three months to close yesterday’s trading session at $22.94, after hitting its 52-week low of $22.43.

Following the December 10th announcement that Jeffrey Lawrence, its chief financial officer, had retired on December 10, the shares of FIGS plunged. Also, FIGS faces competition from smaller manufacturers, such as Scrubs & Beyond and Jaanuu. Its near-term prospects are uncertain.

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