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High-flying IPOs for Lemonade and Accolade may encourage other unicorns to go public

High-flying IPOs for Lemonade and Accolade may encourage other unicorns to go public
If you’d predicted in late March and early April that Q3 would kick off with a wide-open IPO market and receptive investors, I doubt anyone would have believed you. If you suggested that valuations would look pretty good as well, you might even have been laughed at.
And yet, here we are.
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Yesterday https://crunchbase.com/organization/lemonade]Lemonade and https://crunchbase.com/organization/accolade]Accolade priced above their expected ranges, with Lemonade https://www.businesswire.com/news/home/20200701005989/en/Lemonade-Announces-Pricing-Initial-Public-Offering]pricing above its raised range and Accolade https://www.prnewswire.com/news-releases/accolade-announces-pricing-of-initial-public-offering-301087418.html]selling more shares than expected. It’s hard to read the moves as anything other than the market demanding growth-oriented equities and not worrying too much about profitability.

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