Snap Inc is worth $2 billion less since they revealed their AR glasses yesterday
u/lies_are_comforting ·
Reddit — r/StockMarket
· June 17, 2026 at 21:14
· ⬆ 30 pts
· 💬 27 comments
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The stock is down 20 % since the CEO of Snap Inc, Evan Spiegel, gave a keynote speech presentation of the upcoming AR glasses SPECS at AWE yesterday. The stock now trades for under $5 for the first time in three months.
The stock was hit by the perfect storm of bad news this week. First, the UK bans social media for under 16 year olds. Then, Spiegel crashes the stock by revealing the AR glasses. Finally, the FED hints at a rate increase later this year.
Is now a good time to buy the stock? Following the presentation of the AR glasses, no analysts lowered their price targets or ratings. A handful of them reiterated their targets and ratings and a Wells Fargo one even raised their price target to $7. Or course, following the news of a potential rate increase, analysts may reevaluate.
Everyone hates SNAP because of dilution via SBC’s and because of Spiegel’s voting rights. I understand. Still, at $4.75 I love the stock and am buying shares.