Why Figs Stock Is Skyrocketing Today

The stock of Figs (NYSE: Figs) is posting explosive gains on Wednesday. The fashion-focused medical scrubs and apparel company's share price was up 23.2% as of 1:30 p.m. ET today.

In addition to rebound momentum for the broader market following a brutal sell-off at the start of the week, Figs' stock is benefiting from the company's better-than-expected fourth-quarter report. It published the results after the market closed on Tuesday, posting non-GAAP (adjusted) earnings per share of $0.09 on revenue of $128.7 million. Meanwhile, the average analyst estimate had called for adjusted per-share earnings of $0.03 on sales of roughly $128.1 million. 

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Source Fool.com