Snap stock falls as Specs augmented reality glasses draw mixed reactions
Snap Inc. shares dropped 9.63% to $5.16 after the company unveiled its Specs augmented reality glasses. Investors are questioning the profitability and demand for the device. The product represents a gamble on a future beyond smartphones.
What changed
New data confirms the specific percentage and price of the stock decline.
Live updates
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Snap shares plunge following debut of $2,195 Specs AR glasses
confidence 90%Snap Inc. shares dropped 9.63% to $5.16 after the company unveiled its Specs augmented reality glasses. Investors are questioning the profitability and demand for the device. The product represents a gamble on a future beyond smartphones.
What's confirmed:
- Snap Specs AR glasses are priced at $2,195.
- Snap shares fell 9.63% to $5.16 following the product announcement.
Still unconfirmed:
- The company is facing activist pressure regarding its AR gamble.
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Snap stock declines after launch of Specs AR glasses
confidence 90%Snap Inc. introduced Specs, a pair of independent augmented reality glasses priced at $2,195. The company's stock fell following the announcement as investors and consumers reacted to the price and design. CEO Evan Spiegel positioned the device as a bet on a post-smartphone future.
What's confirmed:
- Snap introduced augmented reality glasses called Specs priced at $2,195.
- CEO Evan Spiegel described the glasses as a bet on a post-smartphone future.
- Snap stock fell following the announcement of the new glasses.
Still unconfirmed:
- Analyst estimates suggest the glasses cost an insane amount to develop.