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Insurance Tech Firm Lemonade Stock Soars on Opening Day

By Martin Peers
· · Source: The Information

Insurance tech firm Lemonade priced its IPO at $29 a share, above the initial pricing range, but still below its most recent private valuation of $2.1 billion. But the stock soared to $69 by the close of trading on Thursday, valuing it at nearly $3.8 billion. Lemonade promises to remake the insurance business by “leveraging technology, data, artificial intelligence” with “contemporary design and...

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