Root

Short interest data shows an incremental uptick in short interest for InsurTechs, with slight declines for the brokers.

Root has been mentioned seven times on Reddit message board WallStreetBets in the last two days, with many comments noting the significant short seller interest in the stock.

Former Evernote CTO Anirban Kundu will take over from Manges, who will remain an employee during a handover period, before becoming an adviser.

The personal lines giant announced a $300mn deal last night to buy non-standard auto writer SafeAuto.

The SPACs merging with Hippo, Doma and Qomplx are all trading below the redemption price.

Management should examine the relationship between company strategy, broader market cycles and short interest.

Continued capital depletion could result in additional pressure on management teams with regard to executing their original business plans.

Any faster-than-anticipated re-opening could have a negative impact on loss cost trends.

The carrier made an operating loss of $94.3mn over the three-month period.

Although this period’s short-interest shift was muted, the next update will likely show greater movement as Q1 is digested.

In the absence of macro and micro catalysts the short interest changes in the broader industry were muted.

Taking Metromile public cost the firm an estimated 22% of gross proceeds, followed by Hippo at 11%.