Why Innovative Eyewear Stock Is Soaring Today

Innovative Eyewear Inc LUCY shares are trading higher Wednesday after the company announced a multi-year global licensing agreement with Authentic Brands Group for Eddie Bauer smart eyewear.

What Happened: Through an agreement with Authentic Brands Group, Innovative Eyewear licensed the Eddie Bauer brand for smart eyewear products. The eyewear collection is expected to launch in 2023.

"Few names are as renowned as Eddie Bauer in outdoor recreation. Our Eddie Bauer smart eyewear collection, powered by Lucyd, will continue Eddie Bauer's legacy of bold and beautiful craftsmanship, coupled with innovation, and will align perfectly with today's adventurous lifestyles," said Harrison Gross, CEO of Innovative Eyewear.

Innovative Eyewear is a developer and retailer of smart eyewear, under the Lucyd, Nautica and Eddie Bauer brands.

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LUCY Price Action: Innovative Eyewear has a 52-week high of $7 and a 52-week low of 70 cents.

The stock was up 84.9% at $1.53 at time of publication, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.