LIZI Stock Price Increases Over 20% Pre-Market: Why It Happened

By Amit Chowdhry ● February 22, 2021
  • The stock price of Lizhi Inc (NASDAQ: LIZI) is trading at over 20% pre-market. This is why it happened.

The stock price of Lizhi Inc (NASDAQ: LIZI) — a leading online UGC audio community and interactive audio entertainment platform in China — is trading at over 20% pre-market as of 8:15 AM ET. Investors appear to be responding to Lizhi announcing that its audio product has been launched in Mercedes Benz S-Class cars via Huawei Mobile Services (HMS) for Car.

On December 14, 2020, LIZHI announced that its audio products had been launched in HMS for Car — which utilizes the capability of Huawei Mobile Services and provides users with rich content and in-car services by combining Huawei’s AI engine with its ecological resources. This partnership with Mercedes-Benz S-Class indicates a new benchmark for HMS for Car Quick App services to create digital luxury while LIZHI’s audio product also has been launched in Mercedes Benz S-Class cars as the content ecological co-construction party of HMS for Car.

With the increasing number of car companies partnering with HMS for Car, LIZHI is going to continue to provide selected high-quality audio content to users of the partner companies of HMS for Car and their products, including Mercedes-Benz S-Class and aim to tap into a broad user base. 

Utilizing LIZHI’s leading audio technologies and operating capabilities and the capacity of HMS for Car to integrate data between mobile phones, watches, speakers, smart screens and other devices, LIZHI expects to provide users with high-quality listening and audio entertainment experience to meet users’ increasingly diversified driving demands.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.