Helbiz’s deal to buy Wheels has officially gone through, and with it some promises from the shared micromobility operator to its investors that the tie up will double its annual revenue and help it reach profitability.
Helbiz is hardly the only shared micromobility operator battling to achieve profitability. It’s a situation that most companies in this volatile industry are in today. Helbiz has arguably a tougher road ahead. The company has been facing down a delisting from the Nasdaq for trading way below the $1.00 per share minimum. Bird, the only other publicly traded micromobility company, is facing a similar delisting risk.
Helbiz appears to be using the Wheels acquisition as a lifeline.
However, Wall Street — at least based on the Helbiz share price — isn’t impressed with the company’s promise to deliver “over $25 mil …
