Snap’s highly anticipated AR glasses, Specs, had a rough start. The company’s stock plummeted after the launch, with a 5% drop following the announcement. The main concern is the price: $2,200 per pair, which may be out of reach for Snap’s core user demographic of teenagers. CEO Evan Spiegel defended the cost, comparing Specs to high-end computers and emphasizing its unique capabilities. The high price may impact the product’s profitability. Why it matters: The failure of Snap’s AR glasses may signal a shift in consumer demand for high-end AR technology.