Home / World News / Lemonade makes a dream debut, soars 73% on demand for new listings

Lemonade makes a dream debut, soars 73% on demand for new listings

The company's shares opened at $50.06 on the New York Stock Exchange

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US on August 22, 2017. (Photo: Reuters)

1 min read Last Updated : Jul 02 2020 | 9:38 PM IST

Shares of SoftBank-backed insurance startup Lemonade Inc surged 73 per cent in their market debut, capitalizing on the rebound in US investor demand for new listings following the coronavirus outbreak.

The company's shares opened at $50.06 on the New York Stock Exchange, compared to their initial public offering (IPO) price of $29. The opening price values the company at $2.75 billion.

Topics : Coronavirus Lockdown Community Transmission US stocks US markets Wall Street