The markets stabilized on Tuesday, although not by much. In general, however, we didn’t see much in the way of big stock moves, whether positive or negative. However, there was only one company that saw a large, triple-digit stock price jump, and that was a tiny streaming and electric service provider that just signed a major deal. Helbiz (NASDAQ: HLBZ) announced on Tuesday that it had signed a partnership to stream an Italian soccer championship among Amazon (NASDAQ: AMZN) Prime subscribers. Traders quickly reacted to the news by driving share prices to the moon.
Shares of Helbiz had already surged earlier this month after first announcing that it would be streaming the Italian Serie B Championship. The initial announcement didn’t specify much more besides the fact it would be streaming across the U.S. and the Caribbean. However, the news was more than enough to send shares doubling back even back then.
Fast forward to Tuesday, shares after signing this Amazon deal. Helbiz is still largely a small-cap stock, even after these recent price jumps. As such, any type of major partnership with a trillion-dollar giant like Amazon was certainly going to make waves. The deal is specifically for Italian subscribers to Amazon Prime, who will have unrestricted viewing access to the entire soccer tournament.
“This partnership with Amazon represents a significant step for Helbiz Live and widens the range of sports-related content offered on Amazon Prime Video Channels,” said Helbiz CEO Matteo Mammi in a statement. “It will allow an alternative way of streaming exclusive Helbiz Live content, such as the Serie B championship. We are pleased to have been selected as a partner of Amazon and look forward to working closely together over the coming seasons.”
Helbiz doesn’t just offer streaming services. The company has a large fleet of e-scooters and other mobility-related products. Most recently, the company announced earlier this month that it had set up more than 150 scooter fleets in Durham, North Carolina, in addition to its existing fleets in several American cities. While streaming isn’t the largest business segment, it is the one that’s made the most waves for the company right now given everything that’s going on news-wise.
Shares of Helbiz shot up as much as 154.3% on Tuesday, although those gains eventually settled closer to a 96.6% jump. The company first went public on the Nasdaq back in 2019, and its stock has remained stable around the $10 price point. As of Tuesday’s price jump, shares are trading closer to $30 per share. There’s only one analyst covering the stock as of right now, and they currently have a bullish buy rating.
Helbiz Company Profile
Helbiz Inc provides electric micro-mobility services. The company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform around the world. Helbiz utilizes a customized, proprietary fleet management platform, artificial intelligence and environmental mapping to optimize operations and business sustainability. It is expanding its urban lifestyle products and services to include live streaming services (Helbiz Live), food delivery (Helbiz Kitchen), financial services and more, all accessible within its mobile app. – Warrior Trading News
