On Thursday, Snap (SNAP) shares slipped 9.72%. The price dropped to $5.16. The decline came after the presentation of the first commercial augmented reality glasses. The company's head, Evan Spiegel, priced the new device at $2,195.

The gadget was shown in California at the Augmented World Expo (AWE) 2026. Pre-orders opened the same day. Buyers need to put down a refundable deposit of $200. The first shipments are scheduled for the fall. The device will be shipped to the US, the UK and France. Developers and enthusiasts will be the first to buy the gadget.

The design drew criticism, investors took a wait-and-see stance

The Specs glasses project digital content directly onto the real world. They work fully autonomously. A smartphone is not needed for this.

Spiegel called the device a full-fledged computing platform. It supports apps for the internet, navigation and translation. There is also a built-in AI assistant. Interchangeable lenses with diopters allow a single pair of glasses to be used by several people.

Social media users criticized the look of the new device. They compared the bulky frame to 3D glasses from movie theaters. There were also analogies with workplace surveillance tools. People doubt the comfort of the glasses for everyday wear.

Other premium products showed a similar trend in 2026. High prices prompted caution among investors even before sales data was announced.

Following that, interest in the new device grew beyond the stock market. The crypto community was particularly active. Prediction platforms recorded record trading volumes in 2026. On services like Polymarket, technology releases are now tracked closely. For this reason, the news about SNAP quickly caught traders' attention.

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Source: BeInCrypto