While the rest of the market has been fixated on social media giants Facebook and Twitter, Snap was quietly on a monster run over the past year.  

The stock hit fresh all-time highs Monday, sending its market cap past $100 billion for the first time ever. With its highly anticipated virtual investor day event kicking off Tuesday, investors will be keen to hear from management and CEO Evan Spiegel about what Snap is focusing on to grow market share in the extremely competitive social media space. 

Variety Intelligence Platform media analyst and correspondent Heidi Chung analyzes why there could be even more upside potential for the social company.  

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