If you're confused by Duolingo's (NASDAQ: DUOL) recent stock market performance, you're not alone. Plenty of investors are shaking their heads after watching its stock price tank by 18% on May 9, the day after it reported record-breaking quarterly earnings.
Duolingo's reported results from the first quarter suggest its education application of the same name is gaining popularity at a mind-bending pace. The company even raised its outlook for the rest of 2024.
From the beginning of 2023 through May 8, 2024, Duolingo stock put up a huge 244% gain. If you missed out on the big run-up, a recent mismatch between the performances of Duolingo's operation and its stock price could make now a good time to buy.
Source Fool.com