Shares of Duolingo (NASDAQ: DUOL) shot up over 30% this week, according to data from S&P Global Market Intelligence. The language learning and education app saw rapid user and revenue growth yet again in the fourth quarter, leading investors to buy up the stock. Shares of the stock hit an all-time high and now sit at a market cap of $10 billion.

Here's why Duolingo stock soared more than 30% this week.

This week, Duolingo released its financial results for the last three months of 2023. The gamified language learning app continues to see rapid growth around the world. Daily active users (DAUs) grew 65% year over year to 26.9 million, leading to paid subscribers growing 57% year over year to 6.6 million.

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Source Fool.com