What Is Going on With Innovative Eyewear (LUCY) Stock Today?

  • Innovative Eyewear (LUCY) stock is gaining today without news from the glasses company.
  • Instead, heavy trading volume is sending shares higher.
  • That seems to suggest that speculative traders are pumping shares of LUCY stock.
Glasses representing LUCY Stock.

Source: Shutterstock

Innovative Eyewear (NASDAQ:LUCY) stock is taking off on Friday despite a lack of news from the glasses company.

What is worth noting is the incredibly heavy trading of LUCY stock without any news today. This has some 44 million shares of the stock on the move as of this writing. That’s a massive increase in trading volume compared to the company’s daily average of about 251,000 shares.

Investors will also want to keep in mind that LUCY stock is still fairly new to public exchanges. The company made its debut in August after going through an initial public offering (IPO) that valued shares at $7.50 each.

However, LUCY stock was unable to maintain that price after its IPO closed. Shares continued to fall until settling at around the $1.50 per share price range late last month.

What’s Behind the Interest in LUCY Stock?

It looks like what’s happening today is speculative traders taking stakes in the company. That explains the heavy trading that has LUCY stock rising higher. If that’s the case, it could make it hard to advise investing in the company right now.

Speculative traders jumping into a stock can send it higher, but that can also result in it crashing once the rally is done. That means traders who aren’t careful may end up seeing red instead of the green they were hoping for.

LUCY stock is up 91.1% as of Friday morning.

There’s more stock market news traders will want to know about for Friday!

Fortunately, we’ve got all of that ready to go in one place! Among that news is why shares of Ambac Financial Group (NYSE:AMBC) are up, why Chinese EV stocks are sliding and what’s moving Advanced Micro Devices (NASDAQ:AMD) stock today. You can find out all about these matters at the following links!

More Friday Stock Market News

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/10/what-is-going-on-with-innovative-eyewear-lucy-stock-today/.

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