Zacks’ proprietary data indicates that Root, Inc. is currently rated as a Zacks Rank 3 and we are expecting an inline return from the ROOT shares relative to the market in the next few months.
Is ROOT publicly traded?
Auto insurance startup Root Insurance (ROOT) began trading on the Nasdaq Global Select Market on Oct. 28, raising $724.4 million at $27 per share. The Columbus, Ohio-based company sold 2 million more shares than projected in its initial public offering (IPO), making it the largest IPO in Ohio history.Nov 6, 2020
Why does ROOT stock keep dropping?
We believe Root shares have continued to fall from a combination of poor business performance and wider investor disillusionment about SPACs. We see little chance of things changing – Root’s Q3 2021 results on November 10 had few positive news, as we explain below, and its shares remain speculative.
Share Statistics Root, Inc. has 254.50 million shares outstanding.
What happened Root insurance?
Root Insurance lays off 330 employees, citing pandemic challenges. Columbus-based auto insurer Root is laying off about 20% of its workforce, blaming the pandemic for spiraling costs. In a letter posted on the company’s website Thursday, CEO and co-founder Alex Timm announced that 330 employees will be terminated.
Is ROOT stock undervalued?
ROOT fair value ROOT ($1.32) is significantly undervalued…