“Our hope is the sun might shine in some other places than just mega-cap tech behemoths in the so-called ‘magnificent seven.’”įive outliers on the list including Duolingo have at least tripled this year. Valuation levels right now are near 20-year lows in terms of P/E versus the S&P 500,” says George Smith, co-portfolio manager of the $764 million Davenport Equity Opportunities Fund, a mid-cap fund which is up 22% this year. “While mid-caps have had an okay year, I do think there’s catch-up to be had. Investors’ optimism that the economy will enjoy a “soft landing” and avoid a recession has lifted every corner of the market, so the mid-cap index’s 14% year-to-date gain still trails the S&P 500’s 23% return. Most other mid-caps had a sluggish start to the year to lag behind the large-cap S&P 500, with the S&P MidCap 400 down 2.6% through October, but the last six weeks since the beginning of November have produced a 17% rebound. Although coal prices have come down since the end of last year in the wake of higher demand following Russia’s invasion of Ukraine, Consol’s stock is up another 50% this year after tripling in 2022. The top-ranked stock is Canonsburg, Pennsylvania-based coal producer Consol Energy (CEIX), which has generated $2.8 billion in revenue and $692 million in net income in the last 12 months. The ranking is based on earnings growth, sales growth, return on equity and total stock return over the last five years, with more weight given to the last 12 months of data.

“The generative AI tools really give us a path to getting there, so that’s why we’re so excited about it.”ĭuolingo’s growth helped it land at 18th on this year’s list of America’s Most Successful Mid-Cap Companies, which screens more than 3,000 companies with a market value between $2 billion and $10 billion using data from Factset to rank the top 100.

“Luis has always wanted to make Duolingo as effective as a human tutor on your phone,” says chief financial officer Matt Skaruppa. Subscribers to Super Duolingo pay $6.99 per month to get an ad-free experience and other features, and the company also rolled out a higher $14/month tier called Duolingo Max in March 2023 that uses OpenAI’s GPT-4 to incorporate generative AI into its lessons, offering conversational role-play and better feedback on mistakes. Von Ahn, 45, still serves as Duolingo’s chairman and CEO, with 39-year-old Hacker as its chief technology officer, and this year’s stock performance has lifted the value of both of their personal stakes in the company to around $800 million each.ĭuolingo had 83 million monthly active users and 5.8 million paying subscribers as of the end of the third quarter, with the subscriber count up 57% from 3.7 million last year.

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