Down 29%, Is Duolingo a Buy on the Dip?
The Motley Fool
JULY 27, 2024
After tumbling from a peak it set in May, shares of Duolingo (NASDAQ: DUOL) recently received a positive bump from a Wall Street investment bank that follows its business closely. Duolingo stock popped about 4% higher when the market opened on Friday, July 26. Investors were responding to encouraging words from Bank of America analyst Curtis Nagle. Citing a 31% price drop following the company's first-quarter earnings report in May, Nagle upgraded the stock from a neutral to a buy rating.
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