- Metromile has fallen to all-time lows, losing more than 70% of its value since the start of the year.
- The company has seen reduced demand for new policies as the vaccine rollout has encouraged more frequent driving.
- At the same time, Metromile's per-mile pricing has also given the company higher premiums from elevated driving rates.
- Accident loss ratios spiked in Q2, but it's likely a temporary phenomenon.
- With barely over a ~$500 million market cap, Metromile is worth the risk.
For further details see:
Metromile: Despite Heightened Risks, It's Time To Buy The Dip