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FaZe Clan\u2019s stocks fall by 73 percent in 2 months<\/title>\n<meta name=\"description\" content=\"Hopefully this is just a phase.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dotesports.com\/business\/news\/faze-clans-stocks-fall-by-73-percent-in-two-months\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FaZe Clan\u2019s stocks fall by 73 percent in 2 months\" \/>\n<meta property=\"og:description\" content=\"Hopefully this is just a phase.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dotesports.com\/business\/news\/faze-clans-stocks-fall-by-73-percent-in-two-months\" \/>\n<meta property=\"og:site_name\" content=\"Dot Esports\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DOTesports\/\" \/>\n<meta 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{"id":700611,"date":"2022-10-04T19:17:37","date_gmt":"2022-10-05T00:17:37","guid":{"rendered":"https:\/\/dotesports.com\/?p=700611"},"modified":"2022-10-04T22:04:38","modified_gmt":"2022-10-05T03:04:38","slug":"faze-clans-stocks-fall-by-73-percent-in-two-months","status":"publish","type":"post","link":"https:\/\/dotesports.com\/business\/news\/faze-clans-stocks-fall-by-73-percent-in-two-months","title":{"rendered":"FaZe Clan\u2019s stocks fall by 73 percent in 2 months"},"content":{"rendered":"

FaZe Clan\u2019s stocks have plummeted after the esports titan went public on the Nasdaq.<\/p>

Their stock price dropped to $5 after filing a Notice of Effectiveness with the Securities and Exchange Commission (SEC), which once approved, makes them eligible to trade on the open market. <\/p>

The SEC accepted this application, causing a sudden drop in stock price, alongside overall market conditions.<\/p>

The peak price for FaZe Clan stocks was originally valued at roughly $20 USD and has since had a 73 percent decline since its all-time high in Aug. 2022.<\/p>

\"\"<\/figure> <\/div>

FaZe Clan\u2019s finances are a frequent topic of discussion throughout the esports community and the gaming juggernaut recently made headlines after the org failed to raise all the money<\/a> it wanted to after a merger with B. Riley Principal 150 Merger Corp (BRPM), according to an SEC filing<\/a>. <\/p>

FaZe planned to raise $218 million but fell short by over $100.2 million, grossly underestimating due to \u201chigher than expected redemptions by BRPM public stockholders and higher than expected expenses in connection with the Business Combination.\u201d<\/p>

Because of this underestimation, FaZe was restricted in regards to its anticipated growth strategies, alongside any new initiatives it had planned.<\/p>

\u201cThis may cause significant delays in, or limit the scope of, our planned acquisition strategy and our planned international expansion,\u201d FaZe Clan said.<\/p>","protected":false},"excerpt":{"rendered":"

Hopefully this is just a phase.<\/p>\n","protected":false},"author":2130,"featured_media":700618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"gamurs_wordpress_blocks_hide_tags":true,"_is_affiliated":false,"dotesports_deal_href":"","dotesports_featured_video":"","_notify_users":2,"apple_news_api_created_at":"2022-10-05T00:20:11Z","apple_news_api_id":"cd821e57-1786-4532-8ca0-3d14c66839d9","apple_news_api_modified_at":"2022-10-05T03:05:20Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAA==","apple_news_api_share_url":"https:\/\/apple.news\/AzYIeVxeGRTKMoD0Uxmg52Q","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43],"tags":[37,43952],"invoiceable_action":[],"internal-label":[],"article_type":[44125],"coauthors":[{"id":2130,"display_name":"Harrison 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