FaZe Clan surprised many last year when it announced it would become a publicly traded organization after hitting a record valuation of $1.4 billion in August 2022. The company’s stock value plummeted. by 94% since its IPO, and according to Sports Business Journal, that means FaZe Clan is now valued at $42 million.
With this drop in mind, it is also noted that FaZe only has enough funds to continue operations until November 2023, and for this reason, the esports organization is seeking to become a privately listed company again. purse as she seeks to plug the holes.
FaZe shares are currently so weak that the organization has received a warning from the NASDAQ stock exchange stating that if it does not recover and return to a value of at least $1 per share over a ten-day period, it will be removed from the platform. . of acts. As it stands, a share of FaZe Clan is valued at around $0.53.