Lemonade Shares Drop Nearly 9% After Morgan Stanley Downgrade
On Wednesday, shares of Lemonade (NYSE: LMND) fell nearly 9% after Morgan Stanley downgraded its rating to 'equalweight' from 'overweight'. Analyst Bob Huang cited the need for a new catalyst and concerns over a softening auto insurance market as reasons for the downgrade.
Topics: insurance industry Lemonade Morgan Stanley stock price drop