If you invest consistently in the market over a long period of time, whether through an index fund or a curated stock portfolio, you have a good chance of joining the millionaire club. The truth is that if you find that one amazing stock like Amazon or , it can make up for any losses from stocks that didn't take off and propel you, on its own, into millionaire status. But it's almost impossible to know at the earliest stage, when you need to make that investment, which stock is going to be the next winner. That's one of the reasons diversification is so important.

Let's take a look at Lemonade (NYSE: LMND). It's lost investor confidence and a ton of its value. Is there any chance Lemonade can help you become a millionaire?

Lemonade is an insurance technology company powered by artificial intelligence (AI). In theory, it's a grand, disruptive idea. Traditional insurance is full of legacy operations that aren't easily moved into the digital age. If you could build an insurance company using AI on a digital substrate, it could be much more efficient than traditional companies. That's what Lemonade is.

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Source Fool.com