2024-07-29 06:40:00 ET
Lemonade (NYSE: LMND) , a provider of AI-powered online insurance services, went public at $29 per share four years ago. It soared to a record high of $183.26 during the apex of the meme stock rally in January 2021, but it now trades at about $22.
Lemonade's stock dropped below its IPO price as its growth slowed, it racked up persistent losses, and rising rates popped its bubbly valuation. Should contrarian investors buy this out-of-favor stock as a turnaround play?
Image source: Getty Images.
For further details see:
Should You Buy Lemonade Stock While It's Below Its IPO Price?