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Why Are Lemonade and Metromile Plunging on Monday?

·2 min read
Why Are Lemonade and Metromile Plunging on Monday?
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The stock market was having its worst day since October 2020 on Monday morning, with all three major averages down by more than 2%. As of 10:15 a.m. ET, Lemonade and Metromile shares were lower by 10% and 11%, respectively. Rather, the recent sell-off in stocks has disproportionately affected speculative growth stocks, and that is certainly the case on Monday as well.