Here's Why Lemonade Stock Is Rising Today
The stock market was having a generally strong day on Wednesday, with all three major averages in positive territory by about 0.7% as of 2:45 p.m. EDT. However, insurance disruptor Lemonade (NYSE: LMND) was a big outperformer, with shares up by 8% after rising as much as 10% earlier in the session.
There's no company-specific news fueling today's move. Instead, there is a broad-based rally in some of the rather speculative growth stocks that have been beaten down recently. In addition to Lemonade, many of the so-called "reopening stocks" and SPACs that have lost steam in recent weeks are rallying.
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Source Fool.com
