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Here's Why Figs Is Plunging on Friday

TheMotleyFool

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Here's Why Figs Is Plunging on FridayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

The stock market was having a strong day Friday, with all three major indexes well into the green after the opening bell. However, healthcare apparel company Figs (NYSE: FIGS) was moving sharply in the opposite direction. As of 10:15 a.m. ET, Figs shares had declined by 16% to the lowest level since it went public in May.

The reason behind today's move is a key executive's departure. CFO Jeffrey Lawrence announced his intention to retire, effective Dec. 24.

Image source: Getty Images.

Source Fool.com

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