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Snap 's (NYSE: SNAP) stock more than tripled in 2020 as the social media company impressed investors with its robust growth in revenue and users. Concerns about competition from Facebook 's (NASDAQ: FB) Instagram and ByteDance 's TikTok also faded as the company's bottom line improved.
Investors might be thinking about taking some profits after that big rally, but I believe Snap remains a compelling buy, for three simple reasons.