Snap stock drops 5% after disappointing AR glasses launch

Summary

Snap's newly launched AR glasses, Specs, failed to impress investors, causing the company's stock to drop over 5% from $5.86 to $4.83 per share. The stock had already declined 30% over the past year, and the launch event did not help reverse the negative trajectory. The article highlights investor skepticism about Snap's expensive smart glasses and their market viability.