Stock Alert: Lemonade Slides 6%

Shares of Lemonade, Inc. (LMND), a New York-based provider of insurance products, are losing more than 6 percent or $8.70 in Thursday’s morning trade at $125.75 after recording strong gains in the previous sessions.

U.S. stocks are modestly higher on Thursday in a holiday-shortened session. Optimism about a potential post-Brexit trade agreement and hopes for the economic recovery due to the rollout of coronavirus vaccines generated early buying interest.

Earlier in December, Lemonade announced its launch in France, marking the company’s entry into a third European country. The company had launched in the Netherlands earlier this year and in Germany in June 2019.

Lemonade has traded in a range of $44.11 to $137.30 in the past 52 weeks.

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