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Root shares plunge 21% as Q2 net loss grows to $178mn

Root logo Ohio.jpg

Root’s shares plunged 21% to $5.50 on Thursday, as the InsurTech’s net loss during the second quarter widened to $178mn, from $38.9mn in Q2 last year, and its direct loss ratio climbed to 89.9%, from 70.4% a year earlier.

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