Why Helbiz Stock Is Rising

Helbiz Inc HLBZ shares are trading higher Tuesday after the company filed a Form 4 with the U.S. Securities and Exchange Commision on Monday showing that CEO Salvatore Palella increased his stake in the company.

According to the SEC filing, Palella bought 2,044,676 additional shares at an average price of 99 cents per share, nearly doubling his stake in Helbiz. Following the purchase, Palella now owns a total of 4,544,676 shares of the company. 

Helbiz provides electric micro-mobility services. The company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform around the globe.

Related Link: Insiders Buy More Than $3M Of 3 Penny Stocks

HLBZ Price Action: Helbiz shares have traded between 91 cents and $41.88 over a 52-week period.

The stock was up 19.6% at $1.10 at time of publication, according to data from Benzinga Pro.

Photo: courtesy of Helbiz.

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