Here's Why Duolingo Stock Popped 10% in March
Shares of Duolingo (NASDAQ: DUOL) popped 10.2% in March, according to data provided by S&P Global Market Intelligence. The stock was down sharply early in the month following the release of financial results for 2021. However, the analyst community began highlighting this investment opportunity later in the month, which led to market-beating gains.
Duolingo primarily generates revenue from operating a language-learning app. On March 3, the company reported financial results for 2021. For the full year, the company generated revenue of $294 million, which was up 55% from 2020 and more than what analysts thought it would generate. Moreover, while it did have a $60 million net loss, this was also better than expectations.
Image source: Duolingo.
Source Fool.com
