Snap Inc.

Snap named Robert Downey Jr. as “Chief Customer Experience Officer” for its SPECS AR glasses and released promotional videos showing Downey demonstrating features like sports help, art practice, and private media viewing. In one ad he contrasts SPECS with competing “AI glasses.” The glasses are available for preorder at $2,195 and are due to launch this fall; Snap also enlisted Imogen Heap and Jimmy Butler as promoters. » More on theverge.com

The Cologne regional court found that Snapchat processed inputs into the My AI chatbot for personalized advertising without a sufficient legal basis, including sensitive information such as religion or sexual orientation. Preconfigured ad settings and prechecked boxes, as well as a mere notice confirmed with an “ok,” did not constitute valid consent; the court also saw a particular risk for minors. Snap said it removed advertising from the chatbot after the lawsuit was filed and intends to appeal the not-yet-final judgment. » More on golem.de

Snap shares are up about 20% this month and options volume spiked to more than four times the month-long average as traders poured into calls. Nearly 140,000 options traded Monday, including roughly 64,000 likely buyer-initiated calls versus under 7,000 puts, with calls accounting for about $5 million of $5.5 million in premium. The most-traded contract was the Dec. 18 $8 call (26,000 trades), which requires roughly a 30% rally to be profitable. Shareholder Blue Duck Capital recently urged Snap to allocate capital to its AR Specs business, saying it could support a $12–$14 share price. » More on cnbc.com