FaZe Clan is reportedly evaluating acquisition offers from other publicly traded gaming companies, just a year after the massive gaming and esports organization went public only for the stock price to plummet below $1.00 less than a month into 2023.<\/p>
Related: Overwatch<\/em> League in jeopardy after layoffs, owners to vote on competition\u2019s future<\/a><\/strong><\/p>
FaZe, an organization that competes across numerous esports titles and boasts a large roster of content creators and streamers, went public on the NASDAQ in July 2022<\/a> via a SPAC-merger with B. Riley. For the next two months, the stock price fluctuated between $12 and $20, but fell sharply at the start of October and has steadily declined ever since. In March 2023, NASDAQ issued a delisting notice after the stock stayed below $1.00 for 30 consecutive days, which the company has until September to resolve.<\/p>
Related: Snoop Dogg cuts ties with FaZe Clan amid org\u2019s financial troubles<\/a><\/strong><\/p>
This past May, FaZe was forced to lay off roughly 40 percent of its staff<\/a>, just months after laying off 20 percent of its workforce in February.<\/p>","protected":false},"excerpt":{"rendered":"
