- Helbiz enters Memorandum of Understanding with e-mobility company Wheels
- Poor quartelry earnings over 2021 and a hyped SPAC image are both catalysts to the companies lack of stock growth
- The green horizon holds potential for Helbiz, as micro-mobility becomes increasingly popular
Helbiz (NASDAQ: HLBZ) is probably the number one company pushing global eco-incentive by increasing micro-mobility services across popular urban locations. The constantly’s list of partnerships is constantly increasing, integrating with airlines and rising new-tech companies set to diversify local transport. Helbiz media has also made prominent ground, signing partnerships with NFL and Fox Network in recent months.
Today, the company has entered a Memorandum of Understanding with electric mobility company Wheels, for the supply of an initial fleet of 2,500 seated e-mobility devices. The new local transport is set to be deployed across four cities in the US and two Italian innovation hubs; with plans to expand into further markets in the near future.
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Vivian Myrtetus, Head of Partnerships and Policy at Helbiz, noted:
“We are thrilled to expand our micro-mobility offerings to include Wheels seated devices, a design highly sought after by riders”
Amidst all this positive news, sits the elephant in the room. Helbiz stock – which doesn’t seem so highly sought after. For a company leading the micro-mobility market, at a time when eco-centricity has never been stronger, it’s surprising to see that HLBZ stock has lost 47% of its stock value since its SPAC merger in August last year.
However, there is another side to the coin; the company is still more visionary than they are economically viable. Q2 and Q3 earnings both weren’t particularly positive for the company; continuing to report losses for the majority of FY21.
Helbiz has a great vision, but it needs to scale quickly and aggressively for the company to become more than that. It seems like Helbiz is expanding at a reasonable rate, but it will be worth waiting for Q4 results to see the impacts of the company’s latest endeavors.