Here's How Lemonade Shares Skyrocketed 77% Higher Last Month
Shares of fintech company Lemonade (NYSE: LMND) soared 76.8% higher in December 2020, according to data from S&P Global Market Intelligence. The provider of low-cost insurance services with a social conscience and a completely computerized business model expanded its international footprint, won an important legal case, and closed the year with more than 1 million active customers.
Lemonade launched a renters insurance service in France last month. That's the third European country to get a helping of citrus-flavored insurance, following a German launch in 2019 and an expansion into the Netherlands earlier in 2020.
Two weeks later, a French court ruled that Lemonade can use the color pink (pink lemonade, you know) to market and promote its financial services in that country. Deutsche Telekom's French trademark on a specific shade of magenta was found to be relevant only in the telecommunications market, and the court slapped down Deutsche's lawsuit because Lemonade isn't hurting the company's business in an unrelated market. It was a reversal from an earlier ruling against Lemonade in a similar case in Germany, where the company now is forbidden from using certain shades of pink.
Source Fool.com
