FaZe Clan's stock share is down 94% since becoming a publicly traded organisation

FaZe Clan surprised many last year when it announced that it would become a publicly traded organisation following reaching a record $1.4 billion valuation in August 2022. But jump to today, the decision to go public has seemingly not been kind to FaZe, as the company's stock value has plummeted by 94% ever since becoming publicly traded, and according to Sports Business Journal, this means that FaZe Clan is now valued at $42 million.

With this drop in mind, it's also noted that FaZe only has enough funding to continue operations as is until November 2023, and because of this, the esports organisation is looking to return to being a privately traded company as it looks to plug the holes.

FaZe's stock is currently so low that the organisation has received a warning from the NASDAQ Stock Exchange saying that if it does not recover and return to a value of at least $1 per share for a ten day run, it will be delisted from the stock platform. As it stands, a FaZe Clan share is valued at around $0.53.