The acclaimed Duolingo language learning app (DUOL) recently debuted in the stock market, demonstrating strong investor sentiment as stocks rose double-digit on the first trading day. However, with negative profit margins, will DUOL be able to maintain favorable market sentiment? Read on to find out more. The popular language learning application Duolingo, Inc. (DUOL) made a stellar debut on the Nasdaq Stock Exchange on July 28th. DUOL has approximately 40 million active users and 500 million downloads as the most popular language learning in the world. DUOL application is headquartered in Pittsburgh, Pa.
The company issued 3.70 million shares at a price of $ 102 per share, which exceeded the initial target of $ 85 to $ 95. It raised $ 521 million through the IPO, indicating a valuation of the company of $ 3.708 billion, 54.2% higher than its private market valuation of $ 2.408 billion.
The shares opened at $ 141 on the first trading day, 38.2% more than their previous share price. In fact, DUOL gained 14.5% during the first week and hit an all-time high of $ 152.84 on August 5th.
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