Lemonade stock squeezes out a second day of huge post-IPO gains

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Lemonade Inc. shares had a second strong day of trading Monday following the mobile-based insurance startup launched its initial public offering late Wednesday. Lemonade shares recently touched an intraday high of $96.51 and were last up 31% at $91.17. On Thursday, Lemonade shares skyrocketed to close up nearly 140% on their debut on the New York Stock Exchange while U.S. markets were closed for the Independence Day holiday. The company fashions itself as a disruptor in the insurance industry that uses AI and data analytics and markets itself to tech-savvy, socially conscious millennials. SoftBank Group Corp. owns a nearly 22% stake in the company.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.