Getaround $IPVA SPAC Downtrend Channel Breakout, MACD Goes Positive

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On October 18, 2022, Getaround $IPVA SPAC stock is moving higher on news of a strategic partnership with Kayak.

The pitch is that millions of travelers can find affordable and more flexible ways to optimize their trips this holiday season by avoiding the car rental counter and even critical in-person handoffs, thanks to Getaround’s contactless user experience.

Getaround and KAYAK Enter Strategic Partnership, Bring Contactless Carsharing To Travelers

On October 18, 2022, Getaround, the world’s leading digital peer-to-peer carsharing marketplace, and KAYAK, the world’s leading travel search engine and the first and only travel metasearch to offer peer-to-peer car sharing options in the U.S., announced a new strategic partnership that integrates Getaround’s market-leading on-demand, contactless carsharing offerings with KAYAK’s platforms and services.

The integration enables travelers searching for cars or trucks on KAYAK to enjoy the convenience carsharing provides by booking cars for as little as an hour through Getaround. The announcement comes as years of pent-up travel demand has created robust demand for car and truck rentals in cities throughout the U.S. Now, millions of travelers can find affordable and more flexible ways to optimize their trips this holiday season and beyond, by avoiding the car rental counter and even avoiding in-person key handoffs thanks to Getaround’s contactless and hassle-free user experience.

In fact, Getaround is the first KAYAK carsharing partner to provide maximum booking flexibility with its hourly booking model and a fully contactless experience, thanks to proprietary Getaround Connect® technology. The Getaround-KAYAK integration is now available to travelers visiting Atlanta, Boston, Chicago, Denver, Honolulu, Los Angeles, New York City, Phoenix, San Francisco Bay Area, Tampa, Washington D.C., and many others.

“Getaround is very pleased to enter this new strategic marketing agreement with KAYAK to bring a revolutionary, digital, and convenient contactless carsharing experience to KAYAK travelers,” said Sy Fahimi, Chief Operating Officer, Getaround. “Now more than ever, travelers are looking to save money and want convenience. With Getaround, you can instantly book cars or trucks for as little as an hour, which is ideal for short day excursions during longer trips. Beyond that, we offer bookings by the day or week, enabling Getaround to meet the needs of all KAYAK travelers.”

Privately owned cars are typically parked 95% of the time and on the move only 6 hours per week. For the remaining 162 hours of the week, most cars stay parked and idle. Peer-to-peer carsharing means fewer cars on the road: studies show that, on average, one carsharing vehicle replaces 9 to 13 vehicles. Thanks to carsharing, users are selling their vehicles or postponing the purchase of one.

By leading the shift away from the traditional concept of car ownership, Getaround’s mission is to create a world in which fewer cars are on the road, traffic and pollution are lessened, and greenhouse gasses are reduced. The integration with KAYAK accelerates these positive changes for travelers and local communities alike.

“We are making KAYAK’s car and truck search results even more comprehensive with the addition of Getaround,” said Paul Jacobs, GM & VP, KAYAK North America. “We are continuing to see strong demand for car rentals and peer-to-peer carsharing is a great option for travelers.”

Travelers coordinating their trips through KAYAK can now book a car with Getaround by selecting the “View Deal” button, which will automatically redirect them to the Getaround website to complete their car booking. Getaround cars and trucks are easily accessible, can be unlocked using only a smartphone, and are available to book on-demand 24/7 for as little as one hour. Prices start as low as $5 per hour in many cities, so travelers have a variety of flexible vehicle options nearby.

On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (NYSE: IPVA). Upon the closing of the business combination, which is expected in the second half of 2022, the combined publicly traded company will be named Getaround.

GetAround CEO: Revenue is twice as high prior to Covid-19

GetAround CEO: Revenue is twice as high prior to Covid-19

Getaround $IPVA Stock Technical Analysis

Getaround $IPVA stock is in a technical strong uptrend rating. The stock is on a downtrend channel breakout with the MACD recently going positive. Money flow is negative. The stock is thinly traded, hence the unusual candlesticks on the chart. MUCH CAUTION is always warranted in thinly traded stocks like $IPVA.

Getaround stock chart on October 18, 2022, with positive MACD and negative money flow.
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