Snap shares trade lower heading into break after $2,195 Specs debut
Snap Inc. traded lower heading into the U.S. holiday weekend after the launch of its $2,195 Specs. Investors weren’t convinced by the pricey AR glasses, putting more pressure on CEO Evan Spiegel as he sticks with his augmented reality push. Snap shares finished Thursday at $4.66, off 1.69%. The Nasdaq Composite rose 1.9% to 26,517.93. This marked a third drop in a row for Snap, with trading volume above the 50-day average, suggesting sellers were active, not just a slow holiday session.