MILE - Lemonade Stock: Bear vs. Bull
Lemonade (NYSE: LMND) went public at $29 per share in July 2020. The online insurance company's stock opened at $50.06, continued to rally, and eventually hit an all-time high of $182.90 last January.
But over the past year, Lemonade's stock has plunged back to its IPO price. Concerns about its slowing growth, widening losses, its takeover of the struggling auto insurer Metromile (NASDAQ: MILE) , and its high valuations all made it a weak investment as interest rates rose.
Should investors consider Lemonade's return to its IPO price to be a good buying opportunity? Let's review the bear and bull cases to find out.
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Lemonade Stock: Bear vs. Bull