Lemonade (NYSE:LMND), a fast-growing Insurtech firm, released Q3 earnings this week reporting top-line revenue of $17.8 million and a net loss of $30.9 million. Shares traded down following the news.

Lemonade completed an initial public offering (IPO) earlier this year raising gross proceeds of $319 million at an IPO price of $29 a share. Today, Lemonade is trading around $62 a share at a valuation of around $3.6 billion. At one point, Lemonade shares topped $85 each.