Figure Technology (FIGR) Climbs to New High for 4th Time This Month

We recently published 10 Stocks Stole the Show, 5 Hit Historic Highs. Figure Technology Solutions, Inc. (NASDAQ:FIGR) is one of the best performers on Thursday..

Shares of Figure Technology climbed to a new all-time high for the fourth time this month, as investors continued to post strong confidence, supported by an interest rate cut by the US central bank.

During the session, the stock soared to its highest 52-week price of $46.20 before trimming gains to end the day just up by 16.16 percent at $43.17 apiece.

Copyright: pogorelovaolga / 123RF Stock Photo

Investors appeared to have loaded positions on strong confidence that it would largely benefit from the lower interest rates, having been reduced by 25 basis points by the Federal Reserve on Wednesday.

Lower interest rates bode well for Figure Technology Solutions, Inc. (NASDAQ:FIGR), which leverages blockchain technology to connect lenders and borrowers of home loans, as lower borrowing rates could spark more demand for mortgages, refinancing, and home equity loans.

Figure Technology Solutions, Inc. (NASDAQ:FIGR) is a newly listed company that debuted on the stock market on September 11. The company was able to raise $787.5 million from its initial public offering.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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