Like many other high growth “tech” stocks this one has tumbled a lot in the past months. It's now valued at just 1.5bn, and they have a cash pile of 1 billion. Now granted, they are also unprofitable and burning cash, but at a rate of 94m in the past 9 months, they still have a decent runway ahead of them.
It seems this company is pretty controversial, for a while it was heralded as a great new insurance company with fancy technology, while others are saying all they have are glorified chatbots. I do think their success isn't certain, but they continue to grow customers and premium at a fast rate (45% and 84% y-o-y respectively). They also seem to attract a very young customer base that typically isn't too keen on insurance products. If the customers end up growing with the company, it could pay off for them in the long run. Do you think the company is attractive at this price, or do they still have room to drop?
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