Better Millennial Stock: Lemonade or Square

Lemonade (NYSE: LMND) and Square (NYSE: SQ) both disrupted legacy financial industries by targeting millennial users with their mobile apps.

Lemonade simplified the byzantine process of purchasing homeowners, renters, term life, and pet insurance with a single artificial intelligence-powered app. Square's Cash App bundled together peer-to-peer payments, Bitcoin (CRYPTO: BTC) purchases, free stock trades, and other financial services into a single platform.

At the time of its IPO in July 2020, about 70% of Lemonade's customers were under the age of 35. Chase Digital Banking also recently found that 31% of millennials -- the highest rate of any generation -- currently use peer-to-peer payment apps like Square's Cash App and PayPal's (NASDAQ: PYPL) Venmo.

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Source Fool.com