Snap (SNAP) shares fell 9.72% to $5.16 on Tuesday after CEO Evan Spiegel unveiled the company’s first commercial augmented reality glasses, Specs, priced at $2,195. The launch was announced at Augmented World Expo (AWE) 2026 in California, according to BeInCrypto, with preorders opening the same day on a $200 refundable deposit and initial shipments slated for the US, UK, and France this fall.
Spiegel pitched Specs as a standalone computing platform with built-in apps and an AI assistant, but social media criticism of the bulky design added to investor caution. Specs are priced more than three times Meta’s Ray-Ban smart glasses, which retail below $700.
Snap Shares Slide Nearly 10% After CEO Unveils $2,195 Specs AR Glasses
2026-06-17 20:45:45
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