Why Life Insurance Is the Right Next Step for Lemonade

If you haven't jumped on the Lemonade (NYSE: LMND) bandwagon yet, now might be a good time. The digital insurance company said that it would launch life insurance in the coming month, and that could be a huge catalyst for further sales growth.

Lemonade stock is already trading at a high valuation -- 73 times sales -- and it might be a target for a short squeeze. But this isn't a dying GameStop. It's a hugely growing company, and life insurance is the right next step. Let's see why.

Lemonade began with homeowners and renters insurance and launched pet insurance this past July. The company said on the third-quarter conference call in November that it would launch life insurance within three months, which is coming up shortly.

Source Fool.com