Snap (NYSE:SNAP), which owns the popular smartphone apps Snapchat and Bitmoji, is growing in both active active users and sales in 2020. It will continue to grow as a social media firm into the future. Listed below are reasons why you should own this stock.

finviz dynamic chart for  SNAP

  • More hedge funds are buying and holding long positions in this stock.
  • Snap’s revenue and active users are increasing year after year.
  • The stock trades at 30 times this year’s sales and 22 times next year’s sales. Thus, it is cheaper than other growth stocks.
  • Snapchat app usage has fierce loyalty from the Millennial and Gen Z users.

Due to the above reasons, the stock could propel to even higher price in the near future.

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