Why I Just Bought Lemonade Stock
I'm pretty picky when it comes to adding a new stock to my portfolio. Most of the time I'd rather add to an existing position that I know well than take a chance on something less familiar. But as I was researching recent IPO stocks, I couldn't help but get excited about Lemonade (NYSE: LMND).
This tech-centric insurance provider is disrupting its industry and has all the makings of a multi-bagger for patient investors. Here are five reasons why I became a shareholder.
Co-founders Daniel Schreiber and Shai Wininger set about to build a company from the ground up utilizing technology to make "insurance more delightful, more affordable, more precise, and more socially impactful." Artificial intelligence chatbots make it easy to get a quote and sign up for coverage. A robust mobile app makes it easy to file claims. Data science and machine learning enable instant claim payments. Lastly, after it takes its flat 25% cut of premiums and pays out claims, it donates any money left over to non-profits chosen by its policyholders.
Source Fool.com
