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Here's Why Lemonade Stock Fell on Thursday

TheMotleyFool

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Here's Why Lemonade Stock Fell on ThursdayPhoto, wide shot, wide-angle lens, soft focus, Risk management company, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-vkrXsXVXnZepYEkiT4BvjtCA.png?st=2023-05-14T13%3A27%3A43Z&se=2023-05-14T15%3A27%3A43Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-14T00%3A09%3A01Z&ske=2023-05-15T00%3A09%3A01Z&sks=b&skv=2021-08-06&sig=y1VhH4rrtYGKSVOHO3rBwhpmvE42GCwp7%2BKdLaLI7kA%3D

The stock market was having a fairly strong session on Thursday, but insurance disruptor Lemonade (NYSE: LMND) was an exception. As of 2:30 p.m. ET, Lemonade was down nearly 3%, reaching a fresh 52-week low in the process.

There isn't any company-specific news driving Lemonade's stock price lower. Rather, the latest downward move seems to be the result of an analyst downgrade.

Image source: Getty Images.

Source Fool.com

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