Helbiz Shares Surge Over 150%: Here's Why

A micromobility company is seeing its shares surge higher Tuesday.

What Happened: Helbiz Media, the media arm of Helbiz Inc HLBZ announced a deal with Amazon Italy, a unit of Amazon.com Inc AMZN.

The deal will see Amazon Italy broadcast Serie B matches on all devices and televisions that have Amazon Prime channels in Italy. Serie B content can be streamed with any devices that have Amazon Prime Video including smartphones, tablets, computers and televisions.

The three-year deal will cover all customers who pay a monthly subscription for Helbiz Live, an OTT service.

“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,” Helbiz Media CEO Mattteo Mammi said.

Related Link: Arcimoto, Ayro, Helbiz CEOs Talk Pandemic Challenges And Opportunities In Micromobility

Why It’s Important: Helbiz Media secured the exclusive rights to Serie B, a professional soccer league in Italy, and has been monetizing them via media rights deals.

The deal with Amazon follows up a deal signed with Fox Networks Group, a unit of Fox Corp FOX, to broadcast Serie B matches in the U.S. and Caribbean.

The deal announced Sept. 17 marked the first time Serie B matches will be available in the region and marked the arrival for Helbiz Media in the North American market.

Helbiz is a leader in micromobility with e-scooters, e-bicycles and e-mopeds in 35 cities. The company’s media arm provides diversification from the micromobility market and could be an item not priced in to current financial projections.

HLBZ Price Action: Shares are up 156% to 36.65 on Tuesday.