Today is a day of celebration for investors of Innovative Eyewear (NASDAQ:LUCY). That’s because the company just announced a “major upgrade” to its Lucyd Lyte audio eyewear platform. Clearly, financial traders are pleased with the introduction of the new Lucyd Lyte 2.0 line, as LUCY stock sailed higher on heavy volume this morning.
Hailing from Florida, Innovative Eyewear is a relatively small company with a market capitalization of around $27 million to $28 million. Therefore, any announcement from the company could significantly move the Innovative Eyewear share price.
That’s happening today because Innovative Eyewear, a developer and retailer of smart eyewear, is adding new features to its flagship product line. The Lucyd Lyte 2.0 is Innovative Eyewear’s line of next-generation audio-enhanced smart glasses. It’s currently available on Innovative Eyewear’s website.
Apparently, this was a long time in the making. Innovative Eyewear claims that Lyte 2.0 “marks the culmination of years of” research and development. So, how is the market reacting to Innovative Eyewear’s announcement of the Lucyd Lyte 2.0?
What’s Happening With LUCY Stock?
The immediate response has been overwhelmingly positive. Traders bid LUCY stock up 30% this morning after learning about the new features of Innovative Eyewear’s core product line.
You might be amazed to discover what smart glasses can do nowadays. In particular, the Lucyd Lyte 2.0 provides “immersive open-ear audio” with a four-speaker array. Also, it features dual noise-canceling microphones, as well as Bluetooth 5.2 functionality for “improved connection stability.”
On top of all that, the Lucyd Lyte 2.0 features improved battery life and touch controls that “give an audible signal whenever the user adjusts volume or uses the other button functions, such as activating the voice assistant.” In other words, these are among the smartest smart glasses available now.
As the company’s name implies, Innovative Eyewear is dedicated to advancing innovative products in the smart eyewear category. LUCY stock investors are betting on Innovative Eyewear’s new and improved product offerings, and they’re enthusiastically hoarding shares today.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, David Moadel did not have (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.
