Over the past week, the shares of the North American organization FaZe Clan have been hitting hysterical lows nearly every day. The situation has come to the point that, as of today, the share price fluctuates between $0.16 and $0.18.
The FaZe Clan organization, founded in 2010 and known for its teams in various areas of esports, took a revolutionary step by becoming one of the first esports organizations to go public. In June 2022, FaZe Clan held an IPO on the NASDAQ exchange, and the price per share was $10.
Share history to date
In June 2022, when FaZe Clan first made their shares publicly available, the price was $10. This price did not last long, and after a few months, it dropped to $9.54.
But in August, the shares began to rise sharply. The buyers' interest in the shares was fueled by the team's victory at the Intel Extreme Masters XVII - Cologne. After which, on September 2, the FaZe Clan's shares reached $20.08.
Afterward, the price plummeted and continued to hit new all-time lows every day. It has come to the point where, in 1 year, the price has fallen by 98.21% and is now valued at $0.16.
Organization stickers
Adding fuel to the fire is the fact that the organization's cheapest stickers on the Steam trading platform are currently trading at the same price. On the one hand, we see that FaZe Clan has hit rock bottom, but on the other, it is precisely the price of the stickers that could play the psychological level below which the price will not fall any further. Although this is just our speculation.
Earlier, there were rumors that FaZe Clan wanted to sell about 62.54% of the currently circulating shares. The rumors not only came true, let's say they even exceeded all expectations. Quite recently, the company GameSquare, which also owns the organization Complexity Gaming, bought all the rights to the organization.
At the moment, the FaZe Clan team is participating in the Thunderpick World Championship 2023, where they have already managed to reach the finals. And on November 5, 2023, they will play against the Virtus.pro team in the match for first place.
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