Why Helbiz Stock Has Generated Huge Gains For Investors Today

What happened

Actions of Helbiz (NASDAQ: HLBZ) jumped on Tuesday after the company announced a streaming partnership with Amazon (NASDAQ: AMZN). At the close of trading, the Helbiz share price was up 96.6% after climbing to 191.6% earlier today.

So what

Helbiz owns the worldwide distribution rights to Serie B, a popular Italian football league. The company has entered into a three-year deal with Amazon to make its new streaming service available through a subscription on Prime Video Channels in Italy.

Image source: Getty Images.

Under the terms of the deal, Helbiz Live subscribers will have access to all regular season and Serie B playoff games over the next three seasons.

“This partnership with Amazon represents an important step for Helbiz Live and expands the range of sports-related content offered on Amazon Prime Video Channels,” said Matteo Mammì, CEO of Helbiz Media.

Now what

Helbiz has implemented streaming distribution agreements in recent weeks. The company recently partnered with FOX Networks Group to broadcast the Italian Serie B Championship in the United States and the Caribbean.

Investors applauded Helbiz’s media partnerships. Its stock, in turn, has risen 252% over the past month.

The deal will also help Amazon expand its sports-related coverage. In addition to football games, the streaming giant is looking to make more American football games available to Prime members. Earlier this year, Amazon agreed to pay around $ 1 billion per season to stream Thursday night football games of the National Football League. The e-commerce titan is also reportedly planning to acquire the rights to the popular NFL “Sunday Ticket” package, according to CNBC.

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