Snap, Inc. (SNAP) is a leading camera applications and social media company, widely known for its technological tools and services like Snapchat, Spectacles, and Bitmoji. In addition, the company offers Snap Map, which provides live maps of individual locations, showing nearby friends and popular Stories. Every user of Snapchat has a “Story” to which they can post image and video Snaps. Anyone on their “Friends” list can see their Story, The idea of social media evolving into entertainment platforms is nothing new. But the COVID-19 outbreak has shifted the focus away from users passively consuming content to their actively creating it. Creating and uploading videos on platforms like SNAP is another example of online behavior that has been accelerated by the pandemic. We think SNAP should continue to see increased engagement in the coming months because the total daily time spent by Snapchatters on its distinct platforms is on the rise. SNAP’s strengthened ad platform and its growing user-base have helped the stock gain 216.3% year-to-date. This impressive performance, combined with several other factors, has helped SNAP earn a “Strong Buy” rating in our proprietary rating system. Here is how our proprietary POWR Ratings system evaluates SNAP: Trade Grade: A SNAP is…
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Snap Stock is Up More than 200% in 2020, is it Still a Buy?
