Here's What You Need to Know About Lemonade in 2022

Insurance technology company Lemonade (NYSE: LMND) was a big loser in 2021, shedding 66% of its value. It's not off to a great start in 2022, already down 16% as of this writing.

But if you take a look at the business, you might be more impressed than the stock price indicates. Will 2022 offer a chance for the stock price to catch up to Lemonade's potential? Let's take a deeper look.

Lemonade was a highly anticipated initial public offering (IPO) in June 2020 thanks to its use of artificial intelligence to greatly streamline the claims process. It's a disruptive company gaining a huge following in a massive and mostly undisturbed market, which is an exciting prospect. It has racked up more than 1 million customers in about four years, thanks to a digital focus and low-priced approach that's resonated with its millennial target market. And as a B-corporation, it has a do-gooder aspect; customers get to give what's left from their premium at the end of the year to a charity they can choose.

Source Fool.com