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Here's Why Lemonade Stock Is Soaring on Tuesday

TheMotleyFool

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Here's Why Lemonade Stock Is Soaring on TuesdayPhoto, wide shot, wide-angle lens, soft focus, Underwriting company, sunset photo at golden hour, photo by Peter Lik: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-N0Y6W7kvQQgUHnb7hSHO9TTV.png?st=2024-05-14T11%3A36%3A30Z&se=2024-05-14T13%3A36%3A30Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2024-05-13T19%3A10%3A46Z&ske=2024-05-14T19%3A10%3A46Z&sks=b&skv=2021-08-06&sig=1qvKLOloU0OWrpqzcuH7YcgBv7QI0hAOq2gAtJGiGqs%3D

The stock market was having a solid session on Tuesday, with all three major averages in positive territory at 1:30 p.m. ET. However, insurance technology company Lemonade (NYSE: LMND) was a big outperformer, with shares jumping 10%.

First of all, it's important to keep today's move higher in perspective. Lemonade is still more than 75% below its all-time high even after today's bounce.

Image source: Getty Images.

Source Fool.com

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