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Stock Alert: Lemonade Rises 8%

Shares of Lemonade, Inc. (LMND), a New York-based online insurance company, are rising almost 8 percent or $13.76 in Wednesday's morning trade at $186.75, after falling more than 5 percent in the previous session.

Tuesday, Lemonade said it intends to offer 3 million shares of its common stock for sale in an underwritten public offering. Certain selling stockholders of Lemonade also intend to offer 1.52 million shares of the company's common stock for sale in the offering.

Lemonade intends to use its net proceeds from the primary offering for general corporate purposes. The company will not receive any proceeds from the sale of shares by the selling stockholders in the secondary offering.

Lemonade has traded in a range of $44.11 to $188.30 in the past 52 weeks.

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