Root share price crashes 17% to $1.87 after mass layoffs
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Root share price crashes 17% to $1.87 after mass layoffs

Root insurance Nasdaq.jpg

The share price of auto InsurTech Root plunged by almost 18% in the opening of trading Friday, the morning after the company publicly revealed it was cutting its headcount by 330, or about 20% of its workforce. 

The stock was down by 17.76%, or about $0.40 per share, within the first hour of Friday’s session, continuing its downward march.


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