Why Lemonade Stock Dropped Today

Shares of Lemonade (NYSE: LMND) fell 7% on Thursday, extending the sharp decline in the artificial intelligence (AI)-powered insurance company's stock price since its fourth-quarter earnings report on Monday. Lemonade's customer count jumped 56% year over year to more than 1 million. Together, this helped to fuel an 87% surge in Lemonade's in force premium (IFP) -- essentially, the aggregate annualized premiums paid by customers with active insurance policies -- to $213 million.