Here's Why Duolingo Stock Popped Today [Yahoo! Finance]
Duolingo, Inc. - Class A (DUOL)
Company Research
Source: Yahoo! Finance
ET, Duolingo stock was up 6% but it had been up as much as 12% in earlier trading. Should investors actually care about this? Investors should concern themselves with news regarding Duolingo's business. By contrast, this news has more to do with the stock. Duolingo stock will officially be a member of the S&P MidCap 400 index on Monday. Between now and then, index funds that track this index must buy shares of Duolingo so that the funds accurately reflect the index. This creates buying pressure and partly explains why Duolingo stock is up today. I wouldn't suggest investors read too much into this news since it's not material to Duolingo's business. The company's ability to attract users, grow revenue, and turn a profit is the same regardless of what index it's a member of. What to do now All of this said, I wouldn't say that this news is entirely irrelevant for Duolingo investors. Being added to the index is a recognition of its extraordinary financial results since it went
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DUOL
Earnings
- 2/28/24 - Beat
DUOL
Sec Filings
- 4/26/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- DUOL's page on the SEC website