What's Going On With Innovative Eyewear Stock?

Author: Erica Kollmann | June 28, 2024 01:01pm

Innovative Eyewear, Inc. (NASDAQ:LUCY) shares are surging higher Friday on heavy trading volume. Here's a look at what's going on.

What To Know:

Last week Innovative Eyewear provided a sales and marketing update. The company highlighted its new partnership with Windsor Eyes, a distributor for select US optical and big box channels, and said it is in discussions with major domestic eyewear retailers and distributors for potential late 2024 / early 2025 sales of smart eyewear under its licensed brands.

Innovative Eyewear also highlighted the launch of its Amazon store in Germany, making its products available throughout the entire EU. The company sees its products as well-positioned as an interface for the upcoming upgrades to Apple's Siri and other voice AI’s, like Microsoft Copilot.

“Our goal is to revolutionize the eyewear industry by integrating advanced technology with everyday functionality,” said Joaquin Abondano, COO of Innovative Eyewear.

“We are excited about the positive reception of our new collections and the opportunities ahead. We believe this will be a watershed year for the Company, as smart eyewear interest and enthusiasm is at a peak that hasn’t been seen since the launch of Google Glass 10 years ago."

Innovative Eyewear shares are soaring on heavy trading volume, despite a lack of company-specific news Friday. According to data from Benzinga Pro, more than ten times the stock's 100-day average volume of 30.161 million shares have already been traded in the session.

LUCY Price Action: According to Benzinga Pro, Innovative Eyewear shares are up 65.2% at 54 cents at the time of publication Friday.

Image: Amanda Dalbjörn on Unsplash

Posted In: LUCY