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Helbiz Inc. (HLBZ) Stock on a Rise, Here’s the Reason

Helbiz Inc. (HLBZ), a company that provides micro-mobility solutions for urban areas, has soared 12.09% in pre-market trading session and consequently is trading at $3.43 at the time of the writing. During Tuesday’s regular trading session, the stock declined by 6.71% and closed the day at $3.06. The surge in pre-market could be attributed to the SEC filing of the company in which it has revealed that Palella Salvatore has brought 300,000 and 200,000 shares of the company’s stock at $5.78 and $8.20 per share respectively. Let’s have a look at some other recent developments related to the stock.

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HLBZ Expanded Partnership with Segway

On 21st January, HLBZ announced the expansion of its partnership with Segway. Segway is a leader in personal transportation services. As a result of the expansion in this partnership, Segway would supply a wide range of vehicles which Helbiz would distribute across the globe in cities where it has operations. This in turn would enable Helbiz to have more than 35,000 owned vehicles on the roads around the world during the first half of 2022.

Extension of Collaboration with Vmoto

On 20th January, HLBZ announced the expansion of collaboration with VmotoSoco. Vmoto is an Australian company that specializes in the production of electric two-wheeled vehicles. Their partnership began last year as Helbizdeployed VmotoSoco electric mopeds to run its Helbiz Kitchen operations in Milan. VmotoSoco would provide Helbiz with an additional 2,000 electric mopeds to deploy across its operational cities in Italy as a result of the expansion of the partnership.

Integration with Google Maps

On 18th January, HLBZ reported that its fleet of electric vehicles has been integrated with Google Maps. The integration would mean that the nearby Helbiz e-scooters, e-bicycles, and e-mopeds would appear on the map with an approximate price as well as the estimated duration of the trip and best-suited route to the destination of the traveler. After selecting this, the travelers would be redirected to the Helbiz app where they would be able to start their ride.

Future Outlook for HLBZ

The stats reveal that during the last three months, HLBZ stock has slid by approximately 70%, owing to both market-related and company-specific factors. Looking ahead, the analysts believe that several negative signals are associated with the stock, and hence, it is expected to perform weakly in the next couple of weeks.

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