Updates

** Snap SNAP.N shares slide 6.8% to $5.31

** Snapchat-parent launches its first augmented-reality (AR) glasses for consumers, priced $2,195

** Shipments expected this fall in the U.S., UK and France, with wider availability tied to pre-order demand

** Launch comes at a time when Snap is under activist investor pressure to spin off or shut down its cash-burning Specs unit

** Emarketer senior analyst Minda Smiley says she does not think people would necessarily view AR glasses as a positive alternative to screen time

** Also questions the potential return on investment on the expensive devices; suggests Snap needs to discover a compelling use case to attract consumer interest amid increasing competition

** As of last close, stock down ~29% this year