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Will Lemonade Stock Hit $190 in 2022?

TheMotleyFool

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Will Lemonade Stock Hit $190 in 2022?Photo, wide shot, wide-angle lens, Reinsurance company, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/490045fb-8676-41a9-be7a-bcf4281c7d92.png

Lemonade (NYSE: LMND) was an investor's darling when it came public. Many investors loved the company's innovative use of AI and its unique business model that is different from most insurance companies, and these differentiators sent the stock all the way up around $190 in January 2021. Since then, however, shares have tanked. They are now over 78% off that high and trade for less than $40.

Could Lemonade reach that former glory again this year? To reach $190, that would mean the company would have to skyrocket. While $190 in just one year seems unreasonable, I think that the company will bounce back in 2022, and it could reach $190 over the next several years. Here's why.

Image source: Getty Images.

Source Fool.com

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