HLBZ - HLBZ STOCK NEWS

Helbiz, Inc. (Nasdaq: HLBZ) reports approximately 2.37 billion shares shorted since August 2021, with around 49% of all trading volume attributed to short selling. The cumulative cost basis for shorted shares is $1.14. CEO Salvatore Palella emphasized increasing short seller activity, noting that short sellers have amassed a significant position relative to trading volume. The stock has had 67% of days exhibiting bearish bias based on Friction Factor data. BUYINS.NET has initiated coverage, monitoring compliance with Regulation SHO.

Helbiz Kitchen is launching MrBeast Burger in Milan, Italy on February 9^th 2023, marking its debut in the Italian market. Customers can order through the Helbiz Kitchen app and experience the unique menu of YouTube sensation MrBeast. This partnership with Virtual Dining Concepts aims to enhance the food delivery landscape in Italy. CEO Salvatore Palella believes this initiative will significantly contribute to Helbiz Kitchen's profitability while providing an innovative dining experience.

Helbiz (NASDAQ: HLBZ) announced its plans to issue digital dividend coupons to reward its shareholders. Proposed by CEO Salvatore Palella, this innovative dividend-in-property aims to foster long-term investor support. Details of the coupon structure will be developed in collaboration with a specialized advisory firm, incorporating blockchain technology for secure implementation. Shareholders will benefit from exclusive discounts across various services, including micro mobility and food delivery. This initiative will also help the company formalize its share count and combat market challenges.

Helbiz, a leader in micro-mobility solutions, announced it has been granted an extension by the Nasdaq Hearings Panel to regain compliance with listing requirements. The Company must restore its Market Value and attain a minimum bid price of $1.00 by March 31, 2023. If compliant, Helbiz may receive another extension until June 6, 2023 for its annual meeting obligations. CEO Salvatore Palella expressed optimism about the Company’s progress, citing recent acquisitions and planned expansions. However, the Company acknowledges no assurance of meeting these compliance deadlines.

Helbiz, Inc. (NASDAQ: HLBZ) has completed the acquisition of Wheels Labs, Inc., enhancing its global presence and financial profile. Financial statements reveal that combined pro forma revenues for 2021 reached $22.6 million, a 76% increase from Helbiz alone, while the first nine months of 2022 saw revenues of $16.4 million, up 45%. Wheels operates in 12 cities and 4 universities across the U.S., including major markets like New York and Los Angeles. The innovative Wheels vehicle is designed for accessibility, featuring patented technology. Demand is strong for the new Wheels One, with pre-orders exceeding $2.2 million.

Helbiz has launched the second round of pre-orders for its Wheels One, a new vehicle designed for sustainable commuting. Following a successful first round that secured over $2.2 million in commitments, this round aims to generate over $5 million in future sales. The limited stock consists of 3000 vehicles, set to ship by Q3 2023. Features of the Wheels One include a 30% more powerful motor, enhanced safety with Lidar, and weatherproof design. CEO Salvatore Palella emphasized the Wheels One's potential as a major revenue stream for Helbiz.

Helbiz (NASDAQ: HLBZ) has announced the integration of OpenAI's ChatGPT technology into various departments to enhance customer interactions and streamline operations. This initiative aims to improve initial communication, automate ticket handling, and boost operational efficiencies, ultimately elevating customer satisfaction. The implementation will initially occur in select cities before expanding globally. By utilizing ChatGPT, Helbiz seeks to reduce operational costs while providing more relevant and timely customer service, marking an important step in their commitment to technological advancement.

Helbiz, Inc. (NASDAQ: HLBZ) announced it has filed a proxy statement with the SEC to hold a special stockholder meeting regarding a proposed reverse stock split of its Class A common stock. This move aims to comply with Nasdaq's minimum bid price requirement of $1. If the stock price does not exceed $1.00 by the given deadline, the Board may proceed with the split, but retains the option to delay or abandon it if deemed unnecessary. Additionally, Helbiz secured a new standby equity purchase agreement to raise up to $20 million, enhancing its financial flexibility to support strategic growth and profitability efforts.

Wheels, a Helbiz (NASDAQ: HLBZ) company, is re-launching its shared micro-mobility service in Miami Lakes, enhancing transportation options for residents and visitors. The service features a unique sit-down scooter designed for ease of use, addressing the growing demand for sustainable urban mobility solutions. CEO Salvatore Palella expressed excitement about the re-launch, highlighting the scooters' versatility. The company aims to implement operational efficiencies for seamless integration in the Miami Lakes market, contributing to its mission of providing convenient transportation solutions across North America.