ROOT - Daily - Bounce Play?The weekly RSI has been contradicting price trend 2-3 times...
now has reached all time low with huge volume.
Insurtech
$HCI TypTap Raises $100 Million from CenterbridgeHCI subsidiary corporation, TypTap Insurance Group, Inc., is pleased to announce that a fund affiliated with Centerbridge Partners, L.P. has invested $100 million in the company. The investment, representing about 11.75% of TypTap, implies a post-money valuation for TypTap of approximately $850 million.
In exchange for its investment, Centerbridge received from TypTap preferred shares with liquidation, dividend, redemption, and other rights and received from HCI a four-year warrant to purchase 750,000 HCI common shares at $54.40 per share. The preferred shares automatically convert to common shares upon completion of an initial public offering meeting certain parameters.
finance.yahoo.com
My MILE Price TargetsHello all,
This is definitely not considered technical analysis due to how new the chart is, however, fundamentally I am very BULLISH about the company.
- Their insurance business model is disrupting the traditional static one.
- Metromile is an opportunity to invest in a new way insurance will be priced and sold to a large percentage of the population.
- Personalized per-mile insurance fits better in a world where the growing population are switching to work from home.
- Have already achieved profitable unit economics, no need to raise rates to become more profitable.
- Potential multiple channels of growth.
Metromile is revolutionizing the fragmented $250+ billion U.S. personal auto insurance market with real-time digital auto insurance personalized for low-mileage drivers. About two-thirds of U.S. drivers are considered low-mileage and could be overpaying for auto insurance because they do not pay per mile.
That said, I do believe the price will decline or be stagnant for a while before making a BULLISH ascending chart towards $50.
Short term price target: $25
Long term price target: $75
Good luck to all
💎👐
