Snap SNAP, known for its mobile camera communication application Snapchat, saw its shares gain more than 23% in the key trading session on Jul 23 post Q2 earnings results. Investors were impressed with its strength of users and engagement. Its ads growth was also eye-catching.The company reported second-quarter 2021 earnings of 10 cents per share, beating the Zacks Consensus Estimate of a loss of 2 cents per share. The company had reported adjusted loss of 9 cents per share in the year-ago quarter.Revenues jumped 116.2% from the year-ago quarter to $982.1 million, surpassing the consensus mark by 17.1%. Snap’s second-quarter 2021 top-line growth benefited from increasing ARPU and user base growth. Daily active users (DAU) at the end of the reported quarter were 293 million. Snap added 55 million DAU on a year-over-year basis and 13 million, sequentially.“SNAP’s ad revenue strength was broad-based across use cases (Stories, Discover, lenses and AR, etc) as performance-focused innovation like improved matching, dynamic product ads, and new AR lenses are leading to increased advertiser and spend per advertiser growth,” Morgan Stanley noted, as quoted on CNBC. Wells Fargo analysts also highlighted the company’s broad-based growth and engagement, the CNBC article went on to mention.Snap said the company was not affected by Apple’s iOS 14.5 privacy changes as it had estimated that it would be. This was due to the mobile operating system update rolling out later than expected and iOS users being slow to update their devices. This has given the company more time with advertisers to navigate the transition, said Jeremi Gorman, Snap’s chief business officer, as quoted on the CNBC article.Snap inked partnerships with The Walt Disney DIS, Viber and Bumble BMBL that will bring Camera and AR capabilities into their applications. The company announced Snap Kit integrations with Alphabet’s (GOOGL) YouTube and YouTube Music, allowing users to share YouTube videos to the Snapchat Camera.ETFs in FocusWhile tapping the Snap stock is an option to play this upturn, a basket approach is also a lucrative option as it minimizes company-specific risks. Snap’s presence in Simplify Volt Pop Culture Disruption ETF VPOP (the stock takes about 19.65% of the fund, Global X Social Media ETF SOCL (the stock has 8.29% weight in the fund), First Trust US Equity Opportunities ETF FPX (the stock has about 6.58% weight in the fund) and Franklin Exponential Data ETF XDAT (the stock has about 4.90%) put these tech-related ETFs in great focus. Snap’s own stock performance will regulate these funds (see all technology ETFs here). Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Walt Disney Company (DIS): Free Stock Analysis Report Global X Social Media ETF (SOCL): ETF Research Reports First Trust US Equity Opportunities ETF (FPX): ETF Research Reports Snap Inc. (SNAP): Free Stock Analysis Report Simplify Volt Pop Culture Disruption ETF (VPOP): ETF Research Reports Franklin Exponential Data ETF (XDAT): ETF Research Reports Bumble Inc. (BMBL): Free Stock Analysis Report To read this article on Zacks.com click here.