Snap Inc. is trading at $4.82 (-6.69%) today, extending losses after a -9.63% decline on June 16. This continued selloff follows the company's unveiling of its new $2,195 Specs augmented-reality glasses on June 16, which has been met with significant investor and analyst skepticism regarding its high price and potential to materially improve revenue. Adding to concerns, reports also indicate a previously planned $400 million AI partnership with Perplexity, intended to power Specs' intelligence layer, has collapsed.