Why Lemonade Stock Fell 4.5% Today
Shares of Lemonade (NYSE: LMND) declined 4.5% today as of market close, far more than the broader market indices dropped on the day. The S&P 500 fell just 0.15%, and the NASDAQ composite was down 0.56%. Lemonade stock is now down nearly 10% in the last week and has lost 64% of its value in 2021 with just days left to go until the new year.
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Lemonade has been a divisive stock, especially since surging in value at the start of 2021 only to quickly collapse. Negative sentiment surrounding the company isn't improving heading into 2022. On one hand, this is a fast-growing insurance upstart. The company's in-force premiums increased 84% year over year in 2021's third quarter to nearly $347 million, driven by a 45% increase in customer count (over 1.36 million insured) and a 26% increase in premium per customer (to $254 on an annualized basis).
Source Fool.com
