Walmart Shares Surge 9.5% Amid CEO Stock Sale Controversy: AI Glasses Expectations Prevail

U.S. eyewear brand Warby Parker (Warby Parker Inc.: WRBY) saw its shares surge 9.5%, closing at $29.11 on the New York Stock Exchange on January 12. Its market capitalization jumped by roughly $323.1 million (about ₩468 billion) in a single day. Although the stock had fallen more than 5% at one point the previous session following large share sales by the co-CEOs, it recovered all losses within two days, underscoring significant volatility.

Investor sentiment was rattled by consecutive block trades from the company’s leadership. According to a January 12 filing, co-CEO Neil Blumenthal sold about $1.35 million worth of shares under a pre-planned trading program, while co-CEO Dave Gilboa disposed of roughly $2.61 million in stock—reducing his direct ownership by over 70%. Although some briefly worried that executives were exiting at peak prices, the market quickly refocused on Warby Parker’s mid- to long-term growth story, particularly its collaboration with Google on AI-enabled eyewear.

Targeting a 2026 launch, Warby Parker is jointly developing ultra-light AI glasses with Google, an Alphabet subsidiary. The two companies first unveiled their partnership at last year’s Android XR event and have since filed documentation with the U.S. Securities and Exchange Commission confirming a 2026 release roadmap. Following this development, investment bank TD Cowen raised its price target to $26, predicting that Warby Parker will emerge as a key hardware partner in the “digital eyewear” market. After the report, the stock climbed nearly 9% over two trading days in early January, as optimism around AI glasses translated directly into a valuation boost.

Born as a direct-to-consumer online retailer, Warby Parker specializes in eyeglasses and sunglasses, with in-house designs starting at $95. Its products are sold online and through about 270 brick-and-mortar stores across the U.S. and Canada. By integrating digital services such as virtual try-on and online vision tests, the company has rapidly expanded its customer base. In 2024, revenue rose 15% year-over-year to $771.3 million, active customers increased to approximately 2.51 million, and adjusted EBITDA margin improved into the mid-9% range, fueling expectations of a return to profitability.

Analysts note that while the CEOs’ sizeable share sales may heighten short-term volatility, upside potential remains if the growth narrative—anchored by the new AI eyewear platform and offline expansion—holds true. They caution, however, that uncertainties persist around the terms of the Google partnership, the pricing and demand for smart glasses, and the possibility of further insider sales. Going forward, they recommend closely monitoring future filings and earnings releases for insights into the profitability of the hardware business and any shifts in ownership structure.