Lemonade (NYSE: LMND) and Opendoor (NASDAQ: OPEN) both tried to shake up mature industries with digital-only platforms. Lemonade streamlined the byzantine process of buying insurance plans with an AI-powered chatbot app. Opendoor's online platform streamlines home sales and purchases by making instant cash offers for homes, repairing those properties, and relisting them for sale.

Both companies initially impressed investors with the disruptive potential of their digital platforms and robust growth rates. As a result, Lemonade and Opendoor both hit their all-time highs during the growth and meme stock rally in early 2021.

Image source: Getty Images.

Continue reading

Source Fool.com