{"id":34001,"date":"2022-07-21T10:28:54","date_gmt":"2022-07-21T10:28:54","guid":{"rendered":"https:\/\/www.ginx.tv\/esports-faze-stock-plummets-after-going-public-nasdaq"},"modified":"2024-07-19T08:16:13","modified_gmt":"2024-07-19T08:16:13","slug":"esports-faze-stock-plummets-after-going-public-nasdaq","status":"publish","type":"post","link":"https:\/\/www.ginx.tv\/en\/esports\/esports-faze-stock-plummets-after-going-public-nasdaq","title":{"rendered":"FaZe Clan’s Stocks Plummeted After Going Public On Nasdaq"},"content":{"rendered":"

From announcing million-dollar headquarters to cryptocurrency deals, and even fielding a roster of legendary players<\/a>, esports organizations seemingly never stop reaching new heights of opulence and growth. Recently, gaming behemoth FaZe Clan made headlines on 20th July 2022 after officially launching as a publicly traded company similar to Apple or Google. This decision means fans can purchase a share of their favorite organization and help grow FaZe Clan.<\/p>\n

FaZe Clan Shares Drop 30% After Going Public On Nasdaq<\/h2>\n
\"Faze
FaZe Clan’s shares plummeted BY 30% within its first day of trading. (Picture: FaZe Clan \/ Twitter)<\/figcaption><\/figure>\n

After announcing its plans to go public on Nasdaq<\/a> in October 2021, FaZe Clan has officially achieved its goal through a special purpose acquisition company (SPAC) merger deal of $715 million with a blank check company called B.Riley Principal 150 Merger Corp. The company of ninety-three individuals officially traded on Wednesday, 20th July 2022, opening up FaZe Clan to the world.<\/p>\n