Snap Shares Rise 6.31% as Blue Duck Proposes $1 Billion for Specs

Snap shares climbed 6.31% to $6.23 on Oct. 9, while Blue Duck Capital proposed raising $1 billion for Snap’s Specs augmented-reality glasses business operated through Specs Inc., a wholly owned subsidiary.

The stock opened at $6 and traded between $5.95 and $6.35 during regular trading hours before closing above its Oct. 8 close of $5.86. The share-price increase and Blue Duck’s proposal were separate developments.

Blue Duck’s Oct. 6 open letter urged Snap’s board to raise external funding for Specs from venture investors or a strategic partner. Blue Duck’s plan values Specs at $5 billion and would seek $1 billion by selling a 20% stake.

Separating the funding would allow Specs to be financed outside Snap’s core business without issuing additional Snap shares. The plan estimates that this structure could remove about $500 million in annual spending from Snap’s core operations.

The proposal also projects a potential Snap share price of $12-$14. That figure, along with the valuation and annual spending estimate, is an investor projection rather than a completed transaction, company forecast or confirmed valuation.

Snap has not announced an agreement to sell a stake in Specs, identified a buyer or confirmed the proposed valuation.

Specs AR glasses are available for preorder at $2,195 with a $200 refundable deposit. Shipments are expected to begin later in fall 2026 in the United States, the United Kingdom and France.

Snap is also developing workplace applications for the glasses in retail, factories and field operations. Its enterprise partners include Salesforce, Amazon Web Services, NVIDIA, Trifork and Hololight. NVIDIA technology is intended to support artificial-intelligence agents that interpret workers’ surroundings and provide real-time guidance.

Snap is scheduled to report third-quarter 2026 results on Nov. 4 at 5 p.m. ET (9 p.m. UTC).