Insurance Update: ROOT & LMND 3Q24 earnings
One has reached profitability with an amazing tech platform for policy pricing and customer acquisition. The other one is a hopeless case deceiving investors. It's still one of the best pair trades.
Disclaimer: The information contained in this article is not and should not be construed as investment advice. This is my investing journey and I simply share what I do and why I do that for educational and entertainment purposes.
On October 30, both ROOT 0.00%↑ and LMND 0.00%↑ released their 3Q24 earnings. The former is up 80% as of this writing, while the latter is up 29%.
During my prior coverage on this stock, I have framed this an amazing pair trade opportunity, one that actually doesn’t come by often in life. It’s fascinating to see two companies working at the same time on the same idea, yet with such a massive difference in competence and integrity.
As I will outline below, this quarter has fully confirmed my thesis. For context, here is my prior coverage on both stocks:
