Innovative Eyewear Stock Is Soaring Today: What's Going On?

Innovative Eyewear Inc (NASDAQ:LUCY) shares are surging Thursday after the company announced that its Lucyd Lyte frames are now being sold on Target.com.

What Happened: Innovative Eyewear announced the availability of its smart eyewear collection through Target Corp’s (NYSE:TGT) digital channels, in a move to increase its U.S. market presence.

“Target is a long-time favorite retailer of mine, as well as millions of loyal customers in the US. Their focus on product quality, style and accessibility makes Target.com an ideal channel partner for our smart frames. We look forward to upgrading Target guests’ eyewear,” said Harrison Gross, CEO of Innovative Eyewear.

It’s worth noting that Innovative Eyewear is a low-float stock with just 1.31 million shares available for public trading, according to Benzinga Pro. Innovative Eyewear's average session volume over the last 100 days is approximately 1.16 million. Thursday's trading volume has already exceeded 14 million at the time of writing.

Innovative Eyewear is developing ChatGPT enabled smart eyewear, under the Lucyd, Nautica, Eddie Bauer and Reebok brands.

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How To Buy LUCY Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

LUCY Price Action: Innovative Eyewear shares were up 71.9% at $5.69 at the time of publication, according to Benzinga Pro.

Photo: Pixabay.