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Duolingo stock up 7% amid Xiaohongshu’s rising popularity
Duolingo’s stock rose nearly 7% on Thursday amid the rising popularity of Xiaohongshu, China’s Instagram-like social media platform.
The company reported a 216% year-over-year increase in Mandarin learners, significantly more than the 40% growth in Spanish learners.
Duolingo offers courses in 42 languages and saw its shares increase by 43% last year, exceeding the Nasdaq’s 29% gain.
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