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Insurance Stock Eyes Best Day Ever After Earnings
ROOTRoot(ROOT) Schaeffers Investment Research·2024-10-31 14:53

Shares of Root Inc (NASDAQ:ROOT) are skyrocketing to nearly three-year highs, after the auto insurance name posted surprise third-quarter profits of 1.35pershare.Analystsexpectedalossof87centspersharetomatchlastyear′sresults,whilerevenuebeatestimatesaswell.PerCEOAlexTimm,thecompany "performedwellbeyondoutsideexpectations."ROOTwaslastseenup1561.35 per share. Analysts expected a loss of 87 cents per share to match last year's results, while revenue beat estimates as well. Per CEO Alex Timm, the company "performed well beyond outside expectations."ROOT was last seen up 156% at 103.67, earlier trading as high as $105.50, and on track for its largest single-day percentage gain ever. The stock soared a ...