U.S. Stock Market News | Q3 guidance lower than expected, digital insurance company Lemonade drops more than 17%
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The stock price of the digital insurance company Lemonade fell by more than 17%, closing at $18.65, as it predicted lower-than-expected revenue for the third quarter. The company reported a net loss of $57.2 million in the second quarter, with operating income increasing from $104.6 million last year to $122 million this year. However, Lemonade expects third-quarter revenue to be between $124 million and $126 million, below analysts' expectations of $134.9 million
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