The shares of Lemonade Inc. LMND continued to surge on Monday both in the regular and after-hours sessions, adding 187.1% overall in the first two days of trading at the New York Stock Exchange.
The online insurer had priced its 11 million shares at $29 in the initial public offering last week, raising $319 million.
Lemonade shares closed nearly 17% higher at $81.19 on Monday and added another 2.5% in the after-hours session at $83.25.
The SoftBank Group Corporation SFTBY-backed company is valued at $4.5 billion at Monday's close, more than double the $1.6 billion it was valued at during the IPO.
Lemonade primarily targets first-time insurer buyers as clients and aims to make insurance more accessible using artificial intelligence and data science.
Image: Lemonade
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