Figure Technology stock crashes 20% following mixed Q4 earnings

Figure Technology Solutions just dropped a Q4 earnings bomb — and the stock got nuked. The blockchain lending platform posted revenue of $159.9M (up from $83.9M a year ago) but earnings per share came in at $0.06, missing analyst estimates of $0.18. Net income hit $15.1M vs. $5.9M last year. The market wasn't having it — shares tanked ~20% to $27.12 after the report.

The real juice? Loan volume on their platform exploded to $2.7B in Q4, up from $1.2B a year earlier. Full-year numbers look solid too: $134.3M net income (up from $19.9M) and $506.9M revenue (vs. $340.9M). They also announced a $200M share buyback program — classic move to prop up the stock after a beatdown.

Figure's wild ride mirrors the crypto stock rollercoaster. They IPO'd in September at $25, popped 24% on day one, and peaked near $74 in January before crashing back to reality. Sound familiar? It's the same volatility plaguing other crypto-linked equities.

Gemini Space Station (GEMI) had a similar story — debuted at $28, briefly topped $40, now trading around $5.94. Circle's IPO was even more dramatic: priced at $31, surged 167% on day one, hit an ATH of $263.45 in May, then crashed ~70% to around $83. These stocks rode the crypto wave up, then got wrecked in the broader market pullback.