Snap jumps after announcing its new and improved Spectacles

Snap
  • Snap shares are rallying after the company released the details of its new and improved version of its Spectacles.
  • The new version will incorporate things that customers had wanted, according to Snap Senior Vice President of Hardware Mark Randall.
  • Watch Snap trade in real time here.

Snap shares are rising about 3% early Thursday after the camera company announced the details of its new Spectacles.

The new version is water resistant, and they can take photos and videos in high definition. Those photos and videos can also be loaded onto a users phone at a much faster speed. They will be priced at $US150.

The first version of the Spectacles flopped, and the company had to take a $US40 million write down. The old version was priced at $US130.

Snap’s Senior Vice President of hardware, Mark Randall, said in a statement that Snap “listened to our customers and our community and incorporated every part of their feedback.”

Snap is expected to report its first-quarter results on May 1, with Wall Street analysts expecting an adjusted loss of $US0.17 a share on revenue of $US243.85 million.

Snap shares are little changed this year.

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