Insurance technology company Lemonade (NYSE: LMND) has been a highly debated stock on Wall Street over the past few years. It's bringing a new business model to the insurance industry, and investors have grappled with how to value the stock.
But with the company carrying a $1 billion market valuation today and trading 91% off its highs, it may not matter whether Lemonade is a technology or insurance stock. And the company's recent performance shows Lemonade's long-term arrow is pointing up.
Here is why investors should consider buying shares of Lemonade for the long term.
Source Fool.com