Why Lemonade Stock Surged Today

Shares of Lemonade (NYSE: LMND) leapt 17% on Monday, furthering the AI-powered insurance company's torrid gains since its initial public offering (IPO) on July 2. 

Lemonade priced its IPO shares at $29. Its stock ended its first day of trading on the public markets at $69.41. That 139% pop -- combined with the stock's additional gains today -- makes Lemonade one of the best-performing IPOs of the year so far. 

Lemonade's stock price is up sharply since its IPO. Image source: Getty Images.

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Source Fool.com