Lemonade (LMND) stock hit a new three-year high and is up 152% in the past year. The company maintains a 100% “Buy” rating from Barchart and has a market value of $5.8 billion. Lemonade will now provide insurance for Tesla’s vehicles with full self-driving capabilities, potentially lowering rates by 50%.

Despite its recent gains and strong partnership with Tesla, Lemonade stock has shown volatility, dropping over 6% since a recent “Buy” signal. Analysts give LMND a “Hold” rating with price targets from $30 to $98. The stock has a 50-day moving average of $76.81 and a 100% “Buy” opinion from Barchart.

Lemonade’s stock price recently reached $81.31, with a 50-day moving average of $76.81. The company has a Weighted Alpha of +128.17 and a Trend Seeker “Buy” signal in place. While the stock has seen success over the past year, short interest is high at nearly 20% of the float. Investors should monitor the stock’s performance closely.

Lemonade’s partnership with Tesla to provide insurance for self-driving vehicles adds an interesting narrative to the stock’s story. This collaboration is expected to reduce insurance rates for FSD miles by up to 50% and benefit both companies. However, the stock’s volatility and recent fluctuations suggest a degree of risk for investors. Only time will reveal if the potential benefits outweigh the risks.

Read more at Yahoo Finance: Lemonade Stock Jumps on Plans to Insure Tesla’s Self-Driving Cars