Down 50% over the last year, and down 70% from it's peak in May 2025 to June 2025.
I know a lot of people will state it's not a "value" stock so it shouldn't be discussed, but if you've been around here for the last year you'll know it was discussed every week or so, with many people confident that it would be the "global app of all learning".
While it's true that the company was able to grow revenue 40% YOY, when you're trading at a P/E of 180, everything fundamental needs to be perfect to justify continued increase in share price.
Even then, the problem with DUOL is that it can't meaningfully capture large amounts of new revenue, as it's not like a major tech company that can sign a $10B contract overnight, it's limited to more downloads and people watching more ads or paying for premium versions of the app.
So essentially you had a business with the potential risk of LLMs capturing market share, that was valued as if it could grow 10x in size in a few years despite being limited to user downloads of mainly a nice thing (language learning), and if it did you could stand to realize ~30% annual returns, but if one thing didn't work out you could lose 50% over a couple of quarters.
Just so happened that the latter happened, and here we are today. As Mohnish Pabrai states, better to look for companies that are "Heads I win, tails I lose a little", then "Heads I win, tails I lose".