tech
After unveiling ridiculously expensive AR glasses, Snap's stock takes a dive
Snap's long-awaited smart glasses debut hasn't exactly done wonders for the company's stock.
TL;DR
- Snap's AR glasses, Specs, launched with a price of nearly $2,200.
- Following the launch, Snap's stock dropped over 5%, falling from $5.86 to $4.83 per share.
- CEO Evan Spiegel compared Specs' cost to high-end computers and laptops.
- Spiegel positioned Specs as a unique AR product, balancing wearability with immersive computing capabilities.
- The high cost raises concerns about the product's profitability, given Snap's core demographic of teenagers.