Why Are Lemonade and Metromile Plunging on Monday?

Why Are Lemonade and Metromile Plunging on Monday?

The stock market was having its worst day since October 2020 on Monday morning, with all three major averages down by more than 2%. As of 10:15 a.m. ET, Lemonade and Metromile shares were lower by 10% and 11%, respectively. Rather, the recent sell-off in stocks has disproportionately affected speculative growth stocks, and that is certainly the case on Monday as well.