Why Lemonade Stock Is Crashing Today
Lemonade (NYSE: LMND) stock is getting crushed in Wednesday's trading. As of 12:35 p.m. ET, the company's share price had fallen 22.3%. Meanwhile, the S 500 was down 1%, and the Nasdaq Composite had fallen 1.1%.
Before the market opened this morning, Lemonade published its second-quarter results. Despite reporting earnings that were in line with the average analyst estimate and sales that beat the average analyst target, the stock is getting hit with a huge pullback due to softer-than-expected guidance and pressures impacting the broader market.
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Source Fool.com
