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<ul class="summary-list"><li><keyword id="10585587" type="UNKNOWN" weightage="60" keywordseo="lemonade-stock">Lemonade stock</keyword> fell as much as 11% on Thursday after a negative tweet from notorious short-seller Citron Research.</li><li>The online-insurance platform has outpaced the market considerably since its July IPO with shares up more than 130%.</li><li>Lemonade stock boasts a market cap in excess of $9 billion and trades at almost 100-times sales. </li></ul><a href="https://markets.businessinsider.com/stocks/lmnd-stock">Lemonade</a>'s stock dropped as much as 11% on Thursday after <keyword id="1386551" type="PERSON" weightage="60" keywordseo="Andrew-Left">Andrew Left</keyword>'s notorious short-selling fund, Citron Research, predicted the online-insurance platform will fall back to $100.Founded by Daniel Schreiber and Shai Wininger, Lemonade operates an online insurance platform that uses AI chatbots to help service customers.Lemonade finished Wednesday at $176.64 per share, meaning that a decline to $100 would be a 43% loss.Of course, that hasn't been the case very often of late, as short-sellers have struggled over the past few years. Misses on <a href="https://www.businessinsider.com/jim-chanos-reduces-size-of-tesla-short-bloomberg-news-2020-12">big bets on Tesla</a>, Moderna, and others have cost short-bias funds billions.In fact, short-biased funds lost over 47% through November 2020 alone, according to the HFRX Equity Hedge: Short Bias Index.Citron acknowledged the poor performance of short-sellers over the past few years but still declared the fund would be ripping "management a new one."Read more: <a href="https://www.businessinsider.com/cathie-wood-shares-2021-outlooks-on-tesla-economy-bitcoin-ark-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Cathie Wood's ARK Invest runs 5 active ETFs that more than doubled in 2020. She and her analysts share their 2021 outlooks on the economy, bitcoin, and Tesla.</a>Lemonade was one of the most successful IPOs of 2020, and its run has continued into the new year. Shares are up over 130% since the stock's first day of trading last July.Citron's bearish news comes just one day after Lemonade announced it will upsize its primary public share offering from 3 million shares to 3.3 million.Priced at $164 per share, the company now expects to raise nearly $545 million from the move.Lemonade now boasts a market cap north of $9 billion. A staggering number for a company that posted revenue of just $65 million for the nine months that ended on Sept. 30 while losing $3.41 per share.Still, bulls argue the impressive revenue growth and revolutionary AI-based online insurance platform will allow Lemonade to thrive going forward.<a href="https://markets.businessinsider.com/stocks/lmnd-stock">Lemonade</a> currently has two buy ratings, two sell ratings, and five hold ratings from analysts, while the stock trades at nearly 100-times sales.Read more: <a href="https://www.businessinsider.com/tesla-stock-price-prediction-technical-analysis-wedge-rsi-sven-henrich-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">'Vastly technically disconnected': A market strategist breaks down the 3 indicators that show Tesla is overpriced - and says it's due for a 17% correction in the next 6 weeks</a>

Lemonade drops 11% after notorious short-seller says the stock should trade 43% below current levels

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Lemonade drops 11% after notorious short-seller says the stock should trade 43% below current levels

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