FaZe Clan stock continues prolonged depression

FaZe Clan stock continues prolonged depression. As at November 19, its price is equal to $1,91. The situation has been difficult for the last three months.

The company officially listed on NASDAQ in the middle of summer this year after merging with B. Riley Principal 150 Merger Corp. The stock price situation was satisfying in the first months. The peak price was fixed on August 9 when the price of a single share amounted to $20,08.

The company’s statement about its plans to release additional shares and do insider sales was a reason for decline in value. Also, the factor that did not increase the price was the bear situation on the stock and crypto market.

FaZe Clan demonstrated nice results in its main discipline this year, Counter-Strike: Global Offensive. The team achieved victory at a row of tournaments, including Intel Extreme Masters XVI - Katowice, PGL Major Antwerp 2022, Intel Extreme Masters XVII - Cologne, FaZe held 3rd-4th place at the recently finished BLAST Premier: World Final 2022. The club earned $1,861,750 of prize money in 2022.

Faze Holding Inc. has rosters in such disciplines as CS:GO, Valorant, Rocket League, Rainbow Six, Call of Duty, PUBG, PUBG Mobile, and Halo. Besides participating in various esports tournaments, the company sells its merchandise and works with many content creators.

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