Why Lemonade Stock Is Falling Today
Shares of Lemonade (NYSE: LMND), an online-based insurance company, were tumbling today as Treasury yields rose, putting pressure on growth stocks.
The tech stock was down by 5.2% as of 3:10 p.m. ET.
Lemonade is a unique company that uses artificial intelligence to find insurance policies for potential customers. This puts Lemonade in the fast-growing technology sector and, because of its insurance policies, ties it to the broader financial sector as well. Unfortunately, both sectors were doing poorly today and Lemonade got squeezed as a result.
Source Fool.com
