AppLovin Stock Surges on Upbeat Forecast, Expanded Stock Buyback—Key Level to Watch

Key TakeawaysAppLovin shares jumped more than 20% in pre-market trading Thursday after the app development company topped analysts' quarterly earnings and sales estimates, issued upbeat first-quarter guidance and announced an expansion of its stock buyback program.The company attributed the better-than-expected quarterly results to a strong holiday season, growth in the mobile app advertising market, and bidding enhancements to its platform.Further upside in the AppLovin share price may meet chart resistanc ...