This Little-Known Growth Stock Is Up 1,262% Since the Start of 2024. Here's Why It's Just Getting Started.
Since the start of 2024, Root's (NASDAQ: ROOT) stock has surged 1,262% higher. The surge reflects the disruptive insurance company's solid progress in several key areas. Root has grown its customer base and written more policies. More importantly, it has sharpened its underwriting capabilities, leading to improved profitability.The company has crushed analysts' earnings expectations for several quarters in a row, resulting in a surprising profit in 2024. Root is establishing itself as a contender in the automotive insurance market, and its potential for ongoing success appears promising. Here's what investors need to know about this up-and-coming growth stock.Root is an automotive insurer that prices policies based on driving behavior rather than traditional demographics used by legacy insurers. The company uses mobile technology to track drivers' behavior and provide customized quotes. This approach is known as telematics and has been utilized in the industry for several years. Progressive was one of the first companies to adopt this technology and has used this advantage to crush its peers for years.Continue reading
Since the start of 2024, Root's (NASDAQ: ROOT) stock has surged 1,262% higher. The surge reflects the disruptive insurance company's solid progress in several key areas. Root has grown its customer base and written more policies. More importantly, it has sharpened its underwriting capabilities, leading to improved profitability.
The company has crushed analysts' earnings expectations for several quarters in a row, resulting in a surprising profit in 2024. Root is establishing itself as a contender in the automotive insurance market, and its potential for ongoing success appears promising. Here's what investors need to know about this up-and-coming growth stock.
Root is an automotive insurer that prices policies based on driving behavior rather than traditional demographics used by legacy insurers. The company uses mobile technology to track drivers' behavior and provide customized quotes. This approach is known as telematics and has been utilized in the industry for several years. Progressive was one of the first companies to adopt this technology and has used this advantage to crush its peers for years.
