Near Its All-Time Low, Is Root Stock a Buy?
Wall Street usually loves a good disruptor, but it has been snubbing tech-powered auto insurance company Root (NASDAQ: ROOT). Since Root opened trading last October at $26, its stock price has steadily decreased. Shares are trading at just over $6 at recent prices, down 76% from where they debuted. Is this an opportunity for investors, or a value trap?
Insurance is one of the last business areas to face disruption by technology. It's dominated by a group of huge, old companies, and people generally don't love the process of purchasing policies, nor are they usually thrilled with the ones they get. Root wants to change that.
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Source Fool.com
