Innovative Eyewear stock soars on heavy volume after unveiling app that enables ChatGPT interface

Shares of Innovative Eyewear Inc.
LUCY,
+138.20%
blasted 115.8% higher in active premarket trading Tuesday, after the seller of smart eyewear launched a new Lucyd app that enables a voice interface for ChatGPT. Trading volume spiked up to 7.4 million shares ahead of the open, compared with the full-day average of about 56,200 shares. The company said it believes the new app “may generate substantial revenue” from smart eyewear and app sales. “We are excited to be the first company to provide ChatGPT enabled smart eyewear,” said Chief Executive Harrison Gross. “With our new Lucyd app, which is free to our eyewear customers, we are continuing to make smart eyewear more accessible and functional than ever before.” The company has joined a growing list of companies that have seen their shares rally after announcing involvement with generative artificial intelligence, such as ChatGPT. The stock, which went public in August 2022, has climbed 41.8% over the past three months while the Renaissance IPO exchange-traded fund
IPO,
-0.39%
has advanced 8.7% and the S&P 500
SPX,
+0.07%
has gained 3.5%.