2023-07-02 06:50:00 ET
Lemonade (NYSE: LMND) was a hot IPO (initial public offering) stock when it entered the public market in June 2020. Shares soared 164% over the first six or so months of trading to reach a peak price in January 2021. However, it's been on a terrible downtrend since then.
As of this writing, the stock is 76% below its IPO price. This means that a $1,000 investment back then would be worth just $240 now. Slowing growth, thanks to macro headwinds, coupled with shrinking valuations, have hurt investors.
Let's take a closer look at this innovative insurance business.
For further details see:
If You Invested $1,000 in Lemonade In 2020, This Is How Much You Would Have Today