Here's Why Lemonade's Stock Is Sliding Today
Shares of Lemonade (NYSE: LMND) were tumbling today on seemingly no company-specific news. Many technology stocks were losing ground in response to rising Treasury yields, which is likely the same reason Lemonade's stock was falling.
Its shares were down by 4.9% as of 12:18 p.m. EDT on Monday.
The 10-year Treasury yield inched a little higher today to 1.5%, after reaching a recent high of 1.56% last week. Higher Treasury yields mean that future profits from fast-growing companies, including many tech stocks, won't be worth as much.
Source Fool.com
