Innovative Eyewear Inc’s stock, trading under the ticker symbol LUCY, experienced a significant surge on Thursday following the company’s announcement that its Lucyd Lyte smart eyewear collection is now available for purchase on Target.com. This strategic move aims to boost the company’s presence in the highly competitive US market.
Harrison Gross, CEO of Innovative Eyewear, expressed his excitement about the partnership, highlighting Target’s reputation for quality, style, and accessibility. He believes that Target.com is the ideal platform to expand the reach of Lucyd’s smart frames.
It’s noteworthy that Innovative Eyewear is a low-float stock, with only 1.31 million shares available for public trading. This relatively small float contributes to the stock’s volatility, especially considering that the average daily trading volume over the past 100 days was around 1.16 million shares. On Thursday, the trading volume exceeded 14 million shares, highlighting the market’s enthusiasm for the Target.com listing.
Innovative Eyewear is actively developing ChatGPT-enabled smart eyewear under its flagship Lucyd brand, as well as other popular brands like Nautica, Eddie Bauer, and Reebok. This strategic focus on technology integration positions the company for growth in the increasingly connected world.
Investors seeking to purchase LUCY stock can utilize various methods beyond traditional brokerage platforms. Exchange traded funds (ETFs) that hold LUCY shares can provide diversified exposure to the company. Additionally, investors can allocate a portion of their retirement portfolio to mutual funds or other instruments that may include LUCY stock.
At the time of publication, LUCY shares were up a staggering 71.9%, trading at $5.69. This dramatic price surge is a clear indication of the market’s positive response to the Target.com listing. The partnership holds significant potential for Innovative Eyewear to reach a wider audience and solidify its position in the growing smart eyewear market.
