Why Lemonade Shares Fell 11.3% in September
Shares of insurance upstart Lemonade (NYSE: LMND) fell 11.3% in September, according to data provided by S&P Global Market Intelligence. Following this most recent tumble, Lemonade is back to plumbing 2021 lows. As of market close on Monday, the stock price has been halved in value year to date, is down 64% from its all-time high posted back in January, and is down nearly 11% from where shares made their publicly traded debut in summer 2020.
There was no specific financial news coming from Lemonade last month that caused the tumble. It did announce new pet insurance designed for puppies and kittens, and many shareholders (and many of Lemonade's insured) are eagerly anticipating the initial rollout of auto insurance coverage by the end of this year.
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Source Fool.com
