Duolingo Stock: Will History Repeat Itself?

A 500% winner just suffered a brutal -66% drawdown. Here’s what changed, why the AI panic is overblown, and whether the valuation finally makes sense again.

Over three years have passed since I first wrote about Duolingo stock on my blog in fall 2022 and added it to my portfolio (read more here; originally published in German only). Like most stocks from the 2021 IPO class, Duolingo stock fell well below its initial offering price of $102 in 2022. At the time of my initial post, Duolingo shares were trading…