Why Lemonade Stock Soared 62% in May

Shares of Lemonade (NYSE: LMND) stock gained 14% in May, according to data from S&P Global Market Intelligence. Investors greeted its first-quarter earnings report, released at the start of the month, with incredible enthusiasm.Lemonade got off to a great start when it launched on the stock market in 2020. Investors loved the concept of an insurance disruptor, and it's been demonstrating high-double-digit growth from the beginning, as well as a highly increasing customer count. It went through a long launch phase over about two years, when it rolled out a suite of insurance products. These include its original renter's product as well as homeowners, pet, life, and now auto insurance. Its strategy revolves around capturing younger customers with affordable products and then upselling and cross-selling as customers' insurance needs expand, so the large product collection is an integral part of how it sees its growth trajectory.Continue reading
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