PNINF - HLBZ Stock Skyrockets 180% Thanks to This Big Partnership News
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A sometimes-overlooked trend that has developed over this year is increased interest in micromobility. Companies are offering electric bicycles and scooters that can be rented quickly and returned to a sidewalk near the rider’s destination. Helbiz (NASDAQ:HLBZ), now recognized as a leader in its field, made history in early 2021 as the first micromobility provider to list on the Nasdaq. Since then, the company has expanded, and after an announcement this morning, a new partnership with Amazon (NASDAQ:AMZN) is sending HLBZ stock well into the green.
What Happened With HLBZ Stock
As of this writing, HLBZ stock has skyrocketed an impressive 183% and shows no signs of slowing down. After a week of trading between $8 and $10, the stock began to rise around Sept. 17, though it would dip a few days later.
This significant increase is the direct result of an agreement between Helbiz and Amazon for all Helbiz’s live content to be streamed via Amazon Prime for the next three years. The scooter company’s entertainment arm is a platform that offers monthly subscribers exclusive access to all Series B Soccer League matches as well as playoffs and playouts.
Why It Matters
Helbiz Live has already become popular. As Amazon Prime offers the content up to its vast subscriber network, it will likely only garner more viewership. Should this prove to be the case, it will likely help Helbiz gain more exclusive streaming rights to sporting leagues.
As popular as Italian matches are in Europe, they remain fairly niche among U.S. viewers. However, streaming access from a service as popular as Amazon Prime may be just the thing to change that. Three years is enough time for Helbiz to use this opportunity to establish itself as a leading provider of sports streaming, particularly throughout international markets. All this bodes well for the continuous development of HLBZ stock.
What Comes Next for Helbiz
Helbiz may be primarily considered to be a scooter company but partnerships with industry giants is exactly how these images can shift. That particular market is quickly becoming oversaturated, but Helbiz knows this and is clearly trying to expand into other markets ahead of its competitors. Aside from live streaming sporting events, it has launched a food delivery service.
It is also worth noting that Helbiz is invested in helping reshape the future of urban travel through innovative scooter design, as demonstrated by its partnership with Italian car designer Pininfarina (OTCMKTS:PNINF). Some former SPACs experience considerable turbulence within their first year of trading but Helbiz has made it clear that it is thinking ahead and making moves to adapt to a changing market. As an investment, HLBZ stock is certainly worth watching.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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