Benzinga | Aug 12, 2020 11:05AM EDT

Why Lemonade's Stock Is Trading Lower Today

Lemonade (NYSE:LMND) shares are trading lower on Wednesday after the company issued third-quarter and fiscal year 2020 sales guidance below analyst estimates.

Lemonade operates in the insurance industry. The company offers digital and artificial intelligence-based platform for various insurances and for settling claims and paying premiums. The platform ensures transparency in issuing policies and settling disputes.

Lemonade's stock traded down 1.61% to $61.74 per share at the time of publication on Wednesday. The stock has a 52-week high of $96.51 and a 52-week low of $49.02.