FIGS Inc. Shares Plunge 5.24% Amid Supply Chain Woes

FIGS, Inc. (FIGS) shares plummeted 5.24% today, marking the second consecutive day of decline, with a total drop of 8.82% over the past two days. The share price hit a record low today, with an intraday decline of 6.54%.

FIGS, Inc. has been facing challenges in its business operations. The company recently announced that it has been experiencing supply chain disruptions, which have impacted its ability to fulfill orders in a timely manner. These disruptions have led to delays in product delivery and have negatively affected customer satisfaction. Additionally, the company has been struggling with rising costs, which have put pressure on its profit margins. These factors have contributed to the recent decline in the company's stock price.

In response to these challenges, FIGS, Inc. has been taking steps to address the issues. The company has been working to diversify its supply chain and reduce its reliance on a single supplier. It has also been implementing cost-cutting measures to improve its financial performance. However, these efforts have not yet been enough to reverse the downward trend in the company's stock price. Investors will be closely watching the company's next earnings report to see if it can provide any positive updates on its business operations and financial performance.