Lemonade
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The InsurTech was responding to an online controversy over whether its AI-based claims-handling process could be discriminatory. -
Management should examine the relationship between company strategy, broader market cycles and short interest.
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Continued capital depletion could result in additional pressure on management teams with regard to executing their original business plans.
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The accusation centers on how the InsurTech stores customer information.
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Winter storm losses pushed the carrier’s loss ratio for Q1 to 120%.
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In its earnings statement, the carrier described the Texas freeze as an “extreme stress test” for its operations and financial model.
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Although this period’s short-interest shift was muted, the next update will likely show greater movement as Q1 is digested.
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CareerBuilder CEO Irina Novoselsky and former Groupon executive Silvija Martincevic have joined as non-executive directors.
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The InsurTech will allow customers to bundle the cover with their home, pet and life insurance policies.
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In the absence of macro and micro catalysts the short interest changes in the broader industry were muted.
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Taking Metromile public cost the firm an estimated 22% of gross proceeds, followed by Hippo at 11%.
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The plunge wipes more than $1bn of value off Lemonade’s market cap.
