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Shares of Ray-Ban maker EssilorLuxottica jump 5% on reported Meta stake in AI push

1. EssilorLuxottica shares rose over 5% due to Meta's minority stake. 2. Meta invested approximately 3 billion euros in EssilorLuxottica, enhancing partnership. 3. Meta aims to expand its tech capabilities with AI-powered wearables. 4. The companies plan more smart glasses under the Oakley and Prada brands. 5. Sales of Meta Ray-Ban glasses reached 2 million since late 2023.

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FAQ

Why Bullish?

Meta's investment signals confidence in wearable technology, likely boosting EssilorLuxottica's stock.

How important is it?

Meta's investment and partnership significantly impact EssilorLuxottica's future.

Why Long Term?

Growing demand for AI wearables suggests sustained sales growth and stock performance over time.

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