Why Wix's Stock Is Dropping Today

Wix.com Ltd. WIX shares are trading lower after the company issued sales guidance below analyst estimates.

The company issued second-quarter sales guidance in the range of $308 million to $312 million versus the $312.26 million estimate.

Wix Ltd, together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally.

Wix's stock was trading 13.6% lower at $250.26 at the time of publication. The stock has a 52-week high of $362.07 and a 52-week low of $162.18.