In the six or so months following its public markets debut, Lemonade (NYSE: LMND) was a high-flying stock. But rising interest rates caused investors to be more critical of fast-growing and unprofitable businesses. Now, the shares trade 90% below their peak price from January 2021.

Lemonade just reported its second quarter (ended June 30) financials. The results were met with disappointment. But if you're considering buying this fintech stock on the dip, make sure you know these three things first. They will help you gain a better understanding of the company.

Lemonade's rise follows a similar playbook of other tech-enabled businesses in massive industries. The result is tremendous growth. That's certainly been the case here.

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Source Fool.com