Why Is Innovative Eyewear Stock (LUCY) Up 40% Today?
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Innovative Eyewear CEO Harrison Gross highlighted the potential of the deal with Smartech Retail Group to increase sales. He said, 'We have learned that prospective customers for smart eyewear greatly benefit from live demos in brick-and-mortar shops, and this often leads to rapid product adoption as they experience the value of the smart features firsthand.'
LUCY stock was up 41.67% as of Friday morning, but is still down 33.74% year-to-date. With this comes strong trading activity, as some 1.04 million shares changed hands, compared to a three-month daily average of 1.69 million shares.
Is Innovative Eyewear Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of Innovative Eyewear is thin. Fortunately, TipRanks' AI analyst Spark has it covered. Spark rates LUCY an Underperform (35) with no price target. It cites 'significant operational challenges, weak technical indicators, and unfavorable valuation metrics' as reasons for this stance.
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