Why Innovative Eyewear Stock Is Nosediving Today

Shares of low-float stock Innovative Eyewear Inc LUCY are trading lower by 22.43% to $2.04 Monday morning, potentially on profit-taking after the stock surged last Friday on abnormally-high volume. The company released its October investor presentation last Thursday.

What Happened?

In the presentation, the company highlighted how it has 44 pending and granted patents; ownership of the Lucyd brand; and multi-year license to the Nautica fashion brand for smart eyewear.

The company says it is focused on combining the traditional eyewear markets with the 21st century wearable market.

Traders and investors who are interested in reading the full presentation can find the SEC filing here.

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According to data from Benzinga Pro, Innovative Eyewear has a 52-week high of $7.00 and a 52-week low of $1.26.