Why Lemonade Stock Popped on Wednesday

·1 min read
Why Lemonade Stock Popped on Wednesday

Shares of Lemonade (NYSE: LMND) were up 3.5% when the market closed on Wednesday, though they were up by as much as 5.1% during the day. Lemonade brings big data and artificial intelligence to the insurance industry, attempting to disrupt a massive market. Last quarter, the company's gross profit dropped 59% to $1.9 million as winter storm Uri hit Texas, causing a big spike in homeowners claims.

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