How Duolingo Stock Beat the Market in September
Shares of Duolingo (NASDAQ: DUOL) gained 1.3% in September, according to data from S&P Global Market Intelligence. The price increase isn't impressive in itself, but the language-learning expert achieved this modestly positive return in a month when the S&P 500 index fell 9.3%. In that context, Duolingo's stability stood out like a bucket of water in the desert.
The company didn't have a ton of news to share last month. CEO Luis von Ahn popped up in newspapers and social media feeds a couple of times, discussing his Guatemalan background and Duolingo's stance on potential abortion bans in its home state of Pennsylvania, but these events didn't move the stock.
Instead, shares soared on Sept. 9 and Sept. 28, two of the general market's strongest days in this period. The S&P 500 rose 1.9% and 1.5% on those two days, respectively, while Duolingo notched gains of 7.3% and 4.5%.
Source Fool.com
