Shares of Duolingo Inc. (NASDAQ: DUOL) have shown steady growth since their public debut at the end of 2021, when the company entered the market amid a frenzy for hypergrowth stocks. Initial investor enthusiasm boosted the value of Duolingo’s shares, but they lost their appeal as growth slowed and interest rates rose.

In the latest trading session, Duolingo’s shares have risen by 13% over the past 12 months and are now trading at a level more than 70% above their IPO price. However, they still lag behind the S&P 500, which grew by 27% over the same period.

As of the latest report, the company’s shares were trading at $160.5, which is 15% above the IPO price. Duolingo’s current market capitalization stands at approximately $9 billion. The company conducted its IPO at a price of $140 per share.

Duolingo has overcome a number of hurdles on the way to sustainable growth in the current economic environment. Despite initial difficulties after the IPO and being added to investors’ watch lists, Duolingo continues to attract attention on the stock market.