Duolingo hits all-time high after owl’s demise

Shares of language-learning app Duolingo have taken flight over the last month, rising roughly 30%. Today, it soared to a new all-time high of more than $421.

There’s little actual news that would explain the stock’s rise today, besides the ongoing attention the company has received as a result of an online marketing gimmick in which it “announced” the death of its mascot, the ubiquitous green owl, Duo.

Shareholders can assuage their grief by checking out their paper gains. They might also note that, marketing chicanery aside, there has been rising optimism surrounding the company in recent weeks, especially after what seemed to be an imminent ban of TikTok, which prompted a surge in Chinese language learning as users flocked to RedNote as an alternative platform.

The upsurge in the price hasn’t changed expectations for the company’s Q4 profit or revenue numbers — expected February 27 — very much. The Street expects $0.48 a share, up 85% from the previous year. The prediction for sales is $205 million, a more than respectable growth rate of 36%.

For an in-depth discussion on Duolingo, check out our interview with its CEO, Luis von Ahn.