Here's Why Lemonade Is Falling on Thursday
The stock market was a mixed bag on Thursday, with the Dow Jones Industrial Average in positive territory and both the S&P 500 and Nasdaq falling. However, Lemonade (NYSE: LMND) was a major underperformer, with shares falling by more than 4% as of 2 p.m. ET after being down by as much as 6% earlier in the day.
There are two potential explanations for Lemonade's poor stock performance today. First, while analysts at Piper Sandler kept their overweight rating on Lemonade, they lowered their price target on the stock from $84 to $54, implying significantly less upside for investors.
Image source: Getty Images.
Source Fool.com
