Why did Helbiz, Inc. (HLBZ) stock skyrocket in intraday trading today?

Shares of the Helbiz, Inc. (HLBZ) stock skyrocketed today following the announcement of a partnership between Helbiz Media and Fox Networks Group. HLBZ stock price saw a surge of 172.50% to reach $24.52 a share at the time of this writing. The trading volume as of now was 15,651,424, far higher as compared to the average trading volume. Let’s discuss more about this stock.

Helbiz, Inc operates by providing micro-mobility services across the globe. Its convenient platforms operating in 35 cities worldwide contain a fleet of vehicles including e-mopeds, e-bicycles, and e-scooters. It is also focusing on the expansion of urban lifestyle products and delivery as well as streaming services.

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The partnership between Helbiz Media and Fox Networks Group:

HLBZ stock today announced the partnership between Helbiz Media and Fox Networks Group. The purpose of this partnership is to broadcast the Italian Serie B championship in the USA and the Caribbean. Helbiz Media is the HLBZ stock’s new entertainment service. It is also the distributor of Serie BKT media rights across the globe.

FOX Networks will get exclusive audiovisual rights by Helbiz Media in order to broadcast top Serie B matches as well as highlights on the FOX Sports family of networks. Every week, three Serie B games along with English commentary will be broadcast by FOX. Italian residents in America will be able to listen to Italian commentary live by Helbiz.

HLBZ stock to Participate Benzinga Electric Vehicle Conference:

Yesterday on September 16, 2021, did announce the participation in the upcoming Benzinga Electric Vehicle Conference on September 22, 2021. The conference will be virtual with fireside chat available to the public.

HLBZ stock launched E-Scooters in Durham:

On September 7, 2021, HLBZ stock did announce the launch of a fleet of E-Scooters in Durham, North Carolina. The fleet consisted of 150 safe and innovative e-scooters. The launch was possible for Helbiz stock after it secured a one-year permit.

Conclusion:

The partnership between Helbiz Media and Fox Networks group resulted in the extraordinary rise in the HLBZ stock price. The recent development of HLBZ stock reflects that it is progressing in terms of operational activities. 2021 has been a good year for Helbiz stock so far as it has gained almost 90% year to date.