INAQW - Lemonade: Reinsurance Can't Save This Company 90% Downside

December, 16 2020 12:10 PM INSU Acquisition Corp. II Warrant

Lemonade's narrative of using reinsurance to generate a 25% margin is an impossibility in my view.
Quota share reinsurance does not protect Lemonade's margins.
Stock is wildly overvalued even when compared to high growth peers.
Management has made multiple statements that I find potentially misleading and may cause investors to misunderstand the business' operation.
I believe that the stock is worth $10 today, but potentially worthless in the long run due to management's inexperience in the insurance and the resulting cash burn.

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Company Name:	INSU Acquisition Corp. II Warrant
Stock Symbol:	INAQW
Market:	NASDAQ