Why Is Lemonade Stock Soaring This Week?
The stock market is having a modestly strong week so far, with all three major indexes up between 0.9% and 1.2% for the week through Thursday afternoon. However, insurance disruptor Lemonade (NYSE: LMND) has been a big standout. As of Thursday at 3:30 p.m. EDT, Lemonade shares had gained 9% for the week after being up as much as 13%.
It's also worth noting that this is a continuation of big gains in Lemonade's stock price over the past couple weeks. In fact, since mid-May, Lemonade has rallied by a staggering 62% off its lows.
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Source Fool.com
