Here's Why Lemonade Stock Is Rising on Wednesday
Insurance industry disruptor Lemonade (NYSE: LMND) was handily outperforming the market on Wednesday, with shares up by more than 7% as of 2:50 p.m. ET. While some of that move was likely due to positive momentum in the broader tech sector -- the Nasdaq Composite was up by 1.5% at that point in the session -- investors also seem to be cheering a bit of company-specific news. Lemonade's auto insurance product, Lemonade Car, has rolled out in Oregon, making that state the fifth one where all of the company's insurance products are available to consumers.