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Why Root Dropped 15.3% in May

TheMotleyFool

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Insurance company Root (NASDAQ: ROOT) saw its stock price plummet 15.3% in May, according to S&P Global Market Intelligence. Its performance was far worse than the S&P 500, which returned 0.55% in May.

Root is an insurtech company in the auto insurance space. Through its mobile app, Root uses behavioral telematics and artificial intelligence to track how you drive and sets rates accordingly. You can also file claims and pay bills through the app and it aims to do it faster, cheaper, and more fairly than its competitors.

Image source: Getty Images.

Source Fool.com

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