FaZe Clan, the gaming content creator mega-brand, has received a “Notice of Delisting” from the Nasdaq less than a year after going public. The New York-based stock exchange has threatened to drop the esports company from trading if it fails to get its stock price above $1 in the next few months. FaZe Clan, which aims to monetize the fan bases of some of the biggest pro gamers, streamers, and YouTubers around, went public last year in an unprecedented $1 billion move. However, investor interest failed to materialize, initial shareholders wanted out, and the stock price plummeted to just under $1 in January. Following a momentary bump in February, the stock price has remained below $1 for over 30 days. The Nasdaq has given FaZe Clan an additional 180 days to get its stock price above $1 for at least 10 consecutive days.
In a filing to investors on March 24, FaZe Clan stated that it intends to monitor the closing bid price of the Common Stock and may consider implementing available options to regain compliance, though the company cannot provide assurance that these efforts will be successful.
2023-05-06 22:30:04 FaZe Clan Stock Price Too Embarrassing For Wall Street
Article from kotaku.com
