DUOL - 3 Reasons Duolingo Can Still Double Again in 2024
2024-07-10 10:30:00 ET
Last year taught investors Duolingo 's (NASDAQ: DUOL) love language. Shares of the language learning specialist more than tripled, up 219% in 2023. It's been a different story this year. Duolingo stock is trading 18% lower in 2024, going the wrong way in a rising market.
There is still a lot to like in Duolingo. The stock is highly unlikely to triple again in 2024, especially with less than six months to make that happen. However, the ingredients are there for the company behind the popular learning app to deliver outsize returns for the balance of 2024. Let's see what could make the shares regain their 2023 swagger.
You don't have to look hard to find the root of Duolingo stock's 18% slide this year. The shares took an 18% hit on a single day two months ago -- May 9 -- after the company posted poorly received financial results .
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3 Reasons Duolingo Can Still Double Again in 2024