Artificial intelligence (AI) captured investors' attention early last year when OpenAI's ChatGPT online chatbot showed the world it could answer complex questions and even write computer code.

However, Lemonade (NYSE: LMND) has used AI to transform the insurance industry since it was founded in 2015. There is no shortage of AI companies at the moment, but Lemonade is one of just a few successfully monetizing AI as a core part of its business.

Its stock is trading 89% below its all-time high, which was set during the tech frenzy in 2021, when investors assigned it an irrational valuation. But that steep drop has created an opportunity, because its underlying business continues to go from strength to strength. Here's why Lemonade stock is a buy now.

Continue reading

Source Fool.com