Lemonade, Inc. (NYSE:LMND) was featured on Mad Money as Jim Cramer shared his take on the stock amid a sliding macro environment. Cramer mentioned the company during the episode and said:
Look, it is a tough market. We’re asking everybody about stocks, but the real companies under it, too. What do we make of the recent action, for instance, in the stock of Lemonade, the insurance technology company that uses AI to set its policies? Here’s a stock that came public with a bang in 2020, then languished a bit after the pandemic, going through the meat grinder like so many others in 2021, 2022, and then spending the next couple of years moving sideways. But over the past 18 months, as people recognize the value of AI, Lemonade’s growth has accelerated, while its losses have shrunk and the stock climbed from the mid-teens to a high of just under $100 earlier this year. Now, of course, as the market got choppy in recent months, this thing’s pulled back, just under $66 as of today, like many other stocks. I gotta tell you, I think this is a compelling story… I have to tell you, this may be the kind of stock you buy in one of these sell-offs.
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Lemonade, Inc. (NYSE:LMND) provides insurance products, including renters, homeowners, car, pet, and life insurance. The company offers coverage for property damage and personal liability while also acting as an agent for other insurers. We recently discussed Morgan Stanley’s recent coverage of the stock, which you can read about here.
While we acknowledge the potential of LMND as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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