Snap Inc. shares hit a one-month low on September 24, 2026. Investors criticized CEO Evan Spiegel for promoting the company’s new $2,195 SPECS augmented reality glasses.
The backlash questioned the high price point and the company's recent stock performance. Meta intensified competitive pressure by unveiling a lineup of significantly lower-priced smart glasses.
Snap's stock dropped 6% during the previous session. The downward trend continued as investors weighed challenges in the hardware market and their impact on valuation.