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Why Duolingo Stock Was Sliding Today

Why Duolingo Stock Was Sliding Today

Shares of Duolingo (NASDAQ: DUOL) were sliding today even though there was no news out on the popular language-learning app. Instead, Duolingo was falling in sympathy with Chegg (NYSE: CHGG), another education stock whose shares got roasted after the company revealed on its earnings call last night that new user growth was stalling due to competition from ChatGPT. Duolingo closed down 10.2% on the news while Chegg crashed 48.4%.