Innovative Eyewear (LUCY) Stock Soars 60% Friday: What's Going On?

Shares of Innovative Eyewear Inc LUCY are surging higher by 77.6% to $4.05 during Friday’s session after the company announced a major retail partnership.

What To Know: The smart eyewear maker revealed it will collaborate with Smartech Retail Group to feature its Reebok Powered by Lucyd collection and other branded products at Smartech's new flagship location in Times Square, New York City.

Set to launch on July 22, the showcase will spotlight Lucyd's smart eyewear alongside leading consumer tech brands like Sonos and Segway. The collaboration is seen as a strategic move to increase consumer exposure through in-person demos, which CEO Harrison Gross says significantly boost adoption rates.

Read Also: What’s Going On With AMD Stock?

"We're thrilled to launch with Smartech," said Gross. "Live demos allow customers to experience the real value of our smart features, leading to rapid product acceptance."

James Keating, Global Business Development Manager at Smartech, highlighted the growing appeal of smart eyewear. "Lucyd's fusion of fashion and function fits perfectly with our innovation-focused retail approach," he said.

Innovative Eyewear produces smart glasses under several brands, including Reebok, Eddie Bauer and Nautica.

Read Also: SoFi Stock Rises This Week Amid Bullish Guidance: What’s Going On?

How To Buy LUCY Stock

By now you're likely curious about how to participate in the market for Innovative Eyewear – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Innovative Eyewear, which is trading at $4.05 as of publishing time, $100 would buy you 24.69 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, LUCY has a 52-week high of $13.20 and a 52-week low of $1.57.

Image: Shutterstock