After unveiling ridiculously expensive AR glasses, Snap’s stock takes a dive

Live updates

1. 1d ago

   Snap Stock Drops as US$2,195 AR Glasses Face Market Skepticism

   Snap Inc. has released SPECS, a wearable computer featuring AI assistance and productivity tools. The US$2,195 price point and design choices have sparked criticism. Shares have declined significantly following the launch.

   What's confirmed:

   • The SPECS augmented reality glasses are priced at US$2,195.
   • Snap Inc. has invested in AR for over a decade and holds more than 7,000 patents.
   • Shipments for the glasses are expected this fall in France, the UK, and the US.
   • The 30-day share price return for Snap is down 18.53%.

   Still unconfirmed:

   • Snap stock closed at $4.63, down 19% since the launch of the AR Specs.
   • The company is laying off staff to cut costs while investing in AR.
   confidence 90%
2. 3d ago

   Snap stock drops after unveiling $2,195 SPECS AR glasses

   Snap Inc. launched its SPECS augmented reality glasses with a price tag of $2,195. The stock price fell for two consecutive days following the reveal. Analysts and consumers expressed skepticism regarding the product's potential for mainstream adoption.

   What's confirmed:

   • The SPECS AR glasses are priced at $2,195.
   • Snap stock fell for a second day after the product launch.

   Still unconfirmed:

   • The AR glasses will fail to achieve mainstream adoption.
   confidence 90%
3. 5d ago

   Snap Stock Drops Following Launch of $2,195 SPECS AR Glasses

   Snap Inc. unveiled its first standalone augmented reality glasses, called SPECS, at the Augmented World Expo in California. CEO Evan Spiegel described the device as the computer of the future and a bet on a post-smartphone era. The company's stock fell following the announcement due to investor skepticism over the product's price and design.

   What's confirmed:

   • Snap launched standalone augmented reality glasses named SPECS priced at $2,195.
   • CEO Evan Spiegel positioned the glasses as a post-smartphone computer.
   • Snap shares fell on Tuesday following the product unveiling.
   • The device features dual waveguide displays and a 4-hour battery.

   Still unconfirmed:

   • Snap shares fell nearly 10% after the launch.
   • Snap shares suffered a 9.6% drop, the worst single-day collapse since March.
   • Snap shares dropped 5% due to concerns over audience mismatch.
   • Activists are calling for the company to shut down the new product.
   • Analysts estimate the glasses cost an insane amount to develop.
   confidence 90%