Why Duolingo Stock Plummeted This Week
Shares of the world's largest education app, Duolingo (NASDAQ: DUOL), were down 14% this week as of 2:30 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence.The main reason for this decline came from a Jefferies analyst highlighting that Duolingo's daily active user (DAU) growth slowed to 37% in June.Analysts expected 44% growth in DAUs for the company's second quarter, but the data shows it'll be closer to 39%, prompting the adverse reaction from the market.Continue reading
Shares of the world's largest education app, Duolingo (NASDAQ: DUOL), were down 14% this week as of 2:30 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence.
The main reason for this decline came from a Jefferies analyst highlighting that Duolingo's daily active user (DAU) growth slowed to 37% in June.
Analysts expected 44% growth in DAUs for the company's second quarter, but the data shows it'll be closer to 39%, prompting the adverse reaction from the market.
