Snap (SNAP) is enjoying one of its strongest periods of bullish sentiment, ever. The social media company just reported a blowout third quarter that featured far faster-than-expected user growth, intensified user engagement (driven by the pandemic), and a recovery in ARPU trends - all of which led to a surprising boost in profitability.

Immediately after earnings, shares of Snap rallied ~30% (one of the stock's best one-day performances ever) and notched new all-time highs.

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