FaZe Clan Stock: From Highs to Lows FaZe Clan, one of the most popular esports organizations in the world, has seen its stock price hit a new all-time low following news of layoffs and potential delisting from the Nasdaq stock exchange. As of this writing, the stock is trading at just $0.68, a far cry from its peak of $20 after the company went public last July.
The layoffs, which affected twenty percent of FaZe Clan's staff, were announced by CEO Lee Trink in a statement earlier this month. Trink cited the need for the company to "streamline operations" and focus on its core business of creating gaming content.
Since its IPO, FaZe's stock has plummeted from its initial high, and the company has faced criticism from its members in recent months, particularly as the stock price fell below a dollar at the start of 2023. Some have accused the company of prioritizing profits over its community of gamers and content creators.