My bearish thesis is based on a competitive analysis of the market Duolingo operates in. Duolingo has a flawless balance sheet and has grown its revenue stream quickly whilst maintaining a healthy profit margin. Duolingo had more than 500 million downloads in 2021, making it one of the most popular learning apps in both the App Store and on Google play. The app is beautiful it has an excellent interface with gamification features that many people find helpful, even addictive. Duolingo ( NASDAQ: DUOL), blessed with proven IT entrepreneurs as its founders, is undoubtedly the best app in its field.
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