AppLovin Corp. and Unity Software Inc. shares rallied Thursday after both app-monetization companies turned in better-than-expected results and forecasts late Wednesday, but analysts were cautious about how fast the mobile ad market was recovering.
AppLovin APP shares soared as much as 29% to an intraday high of $23 to more than double their price year to date. Unity U shares rallied as much as 14% to an intraday high of $32.78, and are up 12% year to date. In comparison, the S&P 500 index SPX is up more than 7%, and the tech-heavy…
