Unity Software's (NYSE: U) stock price rallied about 35% over the past month on two positive developments. First, the video game engine developer posted better-than-expected first-quarter results on May 10 and raised its full-year guidance. Second, (NASDAQ: AAPL) said it was working with Unity to develop mixed-reality apps for its new Vision Pro headset during its Worldwide Developers Conference on June 5.

Those two developments brought some bulls back to Unity, but its stock remains 30% below its initial public offering price and more than 80% below its all-time high. Is it the right time to buy Unity as a turnaround play, or is it too late to hop on the bandwagon?

Image source: Apple.

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Source Fool.com