Why Lemonade Stock Popped 12% in June
It just announced a favorable new agreement.
Overview
Shares of Lemonade (NYSE: LMND) stock jumped 12% in June, according to data provided by S&P Global Market Intelligence. The digital insurance start-up gave shareholders some good news about its reinsurance program.
Lemonade set out to disrupt insurance with artificial intelligence (AI) and machine learning long before they became today's catchphrases, and it's harnessing the technology to create a better insurance company.
Details
Since it's just over a decade old, it's still building up its business. It's attracting new members at a rapid pace, cross-selling existing customers to bundles and new policies, and edging closer to profitability.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.