Stock Track | Root, Inc. Soars 13.46% After Hours on Positive Q4 2024 Results and Outlook

Stock Track

Feb 27, 2025

Root, Inc. (NASDAQ: ROOT), a tech-driven insurance company, saw its stock soar 13.46% in the after-hours trading session on Wednesday, following the release of its fourth-quarter and full-year 2024 results.

The company reported strong financial performance, benefiting from its successful refinancing of its $300 million term loan facility with BlackRock last year. This move reduced its principal to $200 million and lowered interest rates by 300 basis points, resulting in a 50% reduction in interest expenses on a run-rate basis.

Additionally, Root, Inc. expanded its auto insurance services to Minnesota in January 2025, increasing its coverage to over 77% of the U.S. population. This expansion, combined with broader market momentum, contributed to the stock's upward movement.

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Soars 13.46% After Hours on Positive Q4 2024 Results and Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-02-27 05:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Root, Inc. (NASDAQ: ROOT), a tech-driven insurance company, saw its stock soar 13.46% in the after-hours trading session on Wednesday, following the release of its fourth-quarter and full-year 2024 results.</p>\n\n<p>The company reported strong financial performance, benefiting from its successful refinancing of its $300 million term loan facility with BlackRock last year. This move reduced its principal to $200 million and lowered interest rates by 300 basis points, resulting in a 50% reduction in interest expenses on a run-rate basis.</p>\n\n<p>Additionally, Root, Inc. expanded its auto insurance services to Minnesota in January 2025, increasing its coverage to over 77% of the U.S. population. This expansion, combined with broader market momentum, contributed to the stock's upward movement.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ROOT","symbol_name":"Root, Inc.","start_time":0,"source_url":"","article_id":"1114235228","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1114235228","pubTimestamp":1740605928,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Root, Inc. , a tech-driven insurance company, saw its stock soar 13.46% in the after-hours trading session on Wednesday, following the release of its fourth-quarter and full-year 2024 results.The company reported strong financial performance, benefiting from its successful refinancing of its $300 million term loan facility with BlackRock last year. 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