Just months after its launch, Snap is reportedly ending development of Pixy, its yellow, palm-sized flying camera drone. The decision to stop work on Pixy is part of a broader "reprioritization of company resources," reported The Wall Street Journal on Thursday.

Snap, the parent company of ephemeral-messaging app Snapchat, saw its stock fall by nearly 40% in July after it reported disappointing second-quarter earnings. Pixy, which launched in April, appears to be the victim of a difficult economy affecting social media platforms as advertisers spend less money.

The selfie drone is still for sale, starting at $230. CNET's review of Pixy says that while "using it can be a lot of fun, the product is still an experimental type of toy most people don't need."

According to the review, Pixy is an easy-to-use drone designed to work with the Snapchat app. Pixy's preset flight patterns allow it to hover in one spot, pull back to reveal a wider shot and circle or follow you, making it most useful for the selfie-heavy content Snapchat features. While the drone is best used for video, it can only capture about five 30-second videos before it needs a charge or a fresh replacement battery, which Snap sells alongside the drone.

Snap declined to comment.