Why Is Everyone Talking About Lemonade Stock?

Lemonade (NYSE: LMND) stock popped 5.4% on Nov. 3 after the online insurer launched its long-awaited auto insurance service, Lemonade Car. The new feature is currently available in Illinois, and the company will subsequently introduce it in Tennessee before rolling it out to additional states.

Lemonade announced its plans to enter the auto insurance market back in April and started accepting early registrations, but it didn't reveal a clear launch date during its latest quarterly report in August.

Let's see why Lemonade Car is attracting so much attention, and figure out if its arrival actually makes Lemonade stock a better investment.

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Source Fool.com