Lemonade, Inc. (LMND) is trading 8% higher at $20.38 today.
- Lemonade closed its divestiture of Metromile's Enterprise Business Solutions (EBS) to digital insurance platform, EIS, in an all-cash transaction
- EBS was Metromile’s SaaS claims automation and fraud detection platform which it licensed to large insurance carriers
- Deal terms have not been disclosed.
Lemonade, Inc. has been trading between a 52-week high of $91.35 and a 52-week low of $15.99. The stock has a market cap of $1.26 Billion.
Lemonade offers renters, homeowners, and pet health insurance in the United States, contents and liability insurance in Germany and the Netherlands, and renters insurance in France, through its full-stack insurance carriers. Powered by artificial intelligence and behavioral economics, Lemonade set out to replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives unused premiums to nonprofits selected by its community, during its annual Giveback.
Headlines
Lemonade rallies on divestiture, HSBC on earnings among financial gainers, Q&K, Huize among major losers
Seeking Alpha 08-01-22
Lemonade offloads Metromile''s EBS platform to EIS
Seeking Alpha 08-01-22
Lemonade Sells Metromile’s Enterprise Business Solutions Platform to EIS
Wallstreet:Online 08-01-22
Metromile’s new owner Lemonade slashes dozens of San Francisco jobs
Business Journals 07-29-22
Lemonade stock dips after completing Metromile deal for $145M of stock
Seeking Alpha 07-29-22
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:j455b - 2 upvotes -
sourcejust buy a stable stock like LMND