Snap Inc. shares rallied in mid-morning trading Friday and are up 4.1%, after being down as much as 2.8% earlier in the session. According to a report from Cheddar, Snap is working on two new versions of its Spectacles glasses, including one that will focus on “performance improvements” and another that will feature two cameras. The company is reportedly also interested in licensing its cameras to traditional glasses companies, including Luxottica Group . Snap’s first-generation Spectacles are considered to have been a flop, with the company saying in November that it had to write down almost $40 million in relation to the Spectacles, mostly due to ” excess inventory and purchase commitment cancellations.” Snap shares are down 27% over the past 12 months, with Friday marking the anniversary of the company’s first trading day. The S&P 500 Index is up 12% over the last year.
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