The problem with Helbiz is not only in their strategy or the bad timing, sicne they got some late January and February investors selling their token short in March at  very low market.

Their real problem is coming from a very wrong set tokenomics (and I do not mean tokens volume, caps or other basics, I mean a broken token supply/demand model and a weak support for tokens value coming from their business model and the token integration in this model). If only they'd calculated the free float and the sustainable token supply/demand ratio, they would've probably avoid that drastic devaluation of token.

Their extremely high free float came from an awful airdrop and bounty campaigns. If I were one of the Helbiz executives or investors, I would kick their ICO manager, advisor or whoever else offered that ICO strategy, right in the balls, because he made it to them and to their token buyers.

Now, there are 2 choices:

1. Hodling for a couple years and hoping, that the team will figure out how to build the business, create a real token liquidity and hence bring the value and price back. That's a gamble. And buying more now when it looks so low is even more gamble, since the company got punched in the face and it is not clear if they can hold that punch.

2. Sell now and fix the loss. I would only go for it, if you need money right now, since you've already lost most value, if you invested during the ICO. Further losses can't hurt much more in the absolute value. But there is a chance to get your money back later.