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Snap Stock Has Soared. Why It’s Still a Strong Play on Advertising.

Wall Street has reacted positively to a batch of announcements that Snapchat maker Snap made on Thursday, including the disclosure that it had reached a half billion monthly active users.

The announcements at the company’s third annual partner summit spanned a range of new features for its flagship Snapchat app, hardware, and content partnerships. Snap (ticker: SNAP) announced a deal with Walt Disney (DIS), which will let people interact with augmented reality objects when visiting Walt Disney World Resorts, and deals with…

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