This AI Stock Used to Be Worth More Than $10 Billion -- It's Now Worth Less Than $1 Billion. Is the Stock a Buy?
Insurance technology expert Lemonade (NYSE: LMND) was a high-flying market darling once upon a time. Its fully automated end-to-end process, with artificial intelligence (AI) tools running everything from applications to loss payouts, was a perfect match for the increasingly automated trends of the early pandemic era.
But the business grew too fast for its own good. Lemonade's financial statements turned sour, and the stock took a swan dive. The market cap reached an all-time high of $10.4 billion in January 2021. The company is worth only $950 million today.
Is the company poised for a comeback, or are the lemons really rotting? Let's take a look.
Source Fool.com