And the recent price action in Trupanion (NASDAQ: TRUP) is proof that the market can make cheap stocks much cheaper: The stock has taken a beating in 2023, down a staggering 53% year to date. Veterinary inflation is a headwind As an insurer, Trupanion receives premiums paid by the owners of enrolled pets. And Trupanion has not been exempt from this challenging situation, either.