TRUP - Trupanion's Stock Is Down More Than 30% This Year; Should You Buy the Dip?
Trupanion (NASDAQ: TRUP) is a pet insurance company with an incredible growth story that caught investors' attention late last year. Animals can have unexpected medical needs just like people do, and pet insurance helps their owners ensure that treatment doesn't get too expensive. Trupanion is a leader in the field, and therefore benefits from pet insurance's rising popularity.
Pet adoptions surged in 2020 as people found themselves stuck at home, and with that surge came significant growth for pet insurance policies. Trupanion was a big beneficiary -- its stock price more than tripled during 2020. This year, however, Trupanion has since seen its stock price decline 32% as of Monday's close.
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Trupanion's Stock Is Down More Than 30% This Year; Should You Buy the Dip?