Why Duolingo Stock Crashed Despite Street-Stumping Results
Shares of Duolingo (NASDAQ: DUOL) took a dive like a wounded green owl on Thursday. The language-learning expert posted strong first-quarter results on Wednesday evening, but some investors wanted a stronger user-growth story, and others simply cashed in some paper profits.
The stock fell as much as 21.4% just after the opening bell today, firming up at a 17% price drop around 2 p.m. ET.
In the first quarter of 2024, Duolingo's revenue jumped 44.9% year over year to $167.6 million. On the bottom line, the year-ago period's net loss of $0.06 per diluted share swung to $0.57 of positive earnings per share.
Source Fool.com
