Lemonade (NYSE: LMND) initially dazzled the bulls when it went public on July 2, 2020. The online insurer went public at $29, and its stock jumped 73% to $50.06 on the very first trade, eventually climbing to an all-time high of $183.26 on Jan. 11, 2021, during the buying frenzy in growth stocks. But as of this writing, Lemonade's stock trades at about $13 a share.

Investors soured on Lemonade as they fretted over its decelerating growth, persistent losses, and bubbly valuations in a tough market. Yet after that steep decline, Lemonade only trades at about 2 times this year's sales. Could this former market darling make lemonade from lemons again if a new bull market starts?

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Source Fool.com