Market Overview

Online Insurer Lemonade's Shares Add 187% In The First Two Days Of Trading After IPO

Share:
Online Insurer Lemonade's Shares Add 187% In The First Two Days Of Trading After IPO

The shares of Lemonade Inc. (NYSE: LMND) continued to surge on Monday both in the regular and after-hours sessions, adding 187.1% overall in the first two days of trading at the New York Stock Exchange.

The online insurer had priced its 11 million shares at $29 in the initial public offering last week, raising $319 million.

Lemonade shares closed nearly 17% higher at $81.19 on Monday and added another 2.5% in the after-hours session at $83.25.

The SoftBank Group Corporation (OTC: SFTBY)-backed company is valued at $4.5 billion at Monday's close, more than double the $1.6 billion it was valued at during the IPO.

Lemonade primarily targets first-time insurer buyers as clients and aims to make insurance more accessible using artificial intelligence and data science.

Image: Lemonade

 

Related Articles (LMND)

View Comments and Join the Discussion!

Posted-In: insurance NYSENews IPOs Markets Tech Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com