Lemonade Shares Jump as Investors Zero In on Profit Path
Lemonade shares jumped 10.6% to an intraday high above $60 after CEO Daniel Schreiber and CFO Tim Bixby appeared at Morgan Stanley’s U.S. Financials Conference, as investors focused on the company’s reiterated target for positive adjusted EBITDA in Q4 and a fresh TD Cowen price target hike, with shrinking losses and improved underwriting driving optimism.