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

The shares of Lemonade Inc. 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 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

Posted In: NewsIPOsMarketsTechInsuranceNYSE
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...