Diamonds and Dogs

8/9/22

Lemonade (LMND) anyone? The online insurance technology company is jumping 12% following earnings as sales rose 77.3% to $50 million. The company has spent aggressively in recent years to grow its insurance business and disrupt the incumbents, but now will slow spending looking to get into profitability and won't need to raise any more capital.

Trex (TREX) having a bad day. The composite decking company is down 15% following earnings. Earnings were actually better than expected as sales rose 24% to $386.25 million. However, the guidance was weak as demand dropped dramatically in the month of June. Trex now expects sales to come in below expectations for the rest of the year.

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