THE SMART MONEY IS SELLING THE GOOGLE/LUXOTTICA DEAL $GOOG $LUX
Google Glass has received a lot of attention as a futuristic wearable device, but it has not caught on with the masses. Now Google GOOG is trying to correct that by signing up eyewear giant Luxottica. Consumers are likely familiar with one of the Italian company’s many brands, such as Ray-Ban, Sunglass Hut, LensCrafters and Oakley. Last month, Luxottica bought glasses.com from health insurance giant WellPoint. But does this move make Luxottica a buy right now?
Luxottica LUX will be in charge of wholesale and retail sales and will also manufacture Google Glass frames. Luxottica stock has moved up on the news of the partnership, but our algorithms at The Arora Report show that the smart money is selling aggressively into the strength.… Please click here or the title below to read more.