Looking into Snap's Spectacular Inventory Write-Down

Snap first gained fame for its Snapchat mobile app launched in November 2012. According to Reuters, excitement surrounding this technology later spread to the company's stock when Snap listed on the New York Stock Exchange in March 2017. Since that time, however, Snap's financial performance has given investors little to be excited about. One big disappointment has been the company's failed attempt to introduce millenials to wearable video hardware. Picking up where Google Glass left off, Snap introduced Spectacles in late 2016, with some commentators predicting success with the new product. But only a year later, on November 8, 2017, Snap's stock price fell nearly 18% when the company relea

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