Here's Why Lemonade Stock Fell 26% Last Month
Shares of Lemonade (NYSE: LMND) fell 26% in March 2021, according to data from S&P Global Market Intelligence. The insurance technology expert posted Street-stumping results early in the month, but the surprise wasn't enough to sustain Lemonade's soaring stock price.
Lemonade's fourth-quarter revenue landed at $20.5 million, comfortably ahead of Wall Street's $19.1 million consensus estimate. Adjusted net losses of $0.60 per share also beat the Street's expectations of a $0.65 loss. The customer list grew 56% at 1 million names, and the average insurance premium per customer increased by 20%. However, management's guidance for the next quarter pointed to sales just below analysts' then-current projections. Lemonade's shares fell 13% over the next two days as investors digested the report and the concomitant analyst reactions.
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Source Fool.com
