FIGS, Inc. (FIGS) has disclosed a new risk, in the Share Price & Shareholder Rights category.
FIGS, Inc. faces significant uncertainty regarding the impact of its share repurchase program, authorized in August 2024, to buy back up to $50 million of its Class A common stock. With $42.7 million still available for repurchases as of September 30, 2024, the program’s success in enhancing long-term stockholder value remains uncertain. Factors such as stock price volatility, market conditions, and credit agreement terms with Bank of America may influence the program’s execution, potentially affecting the company’s cash reserves and its strategic flexibility. Furthermore, the possibility of modifying, suspending, or terminating the program at any time without notice could introduce additional volatility to FIGS, Inc.’s stock price.
The average FIGS stock price target is $5.54, implying 15.90% upside potential.
To learn more about FIGS, Inc.’s risk factors, click here.
