FaZe Clan Paris Major Sticker Prices Are Now Higher Than Their Share Prices
| Tags: CS:GO
| Author The News One
The organization’s share price is still below the $1 mark and lower than a $0.80 Faze Clan Glitter Paris Major 2023 Sticker
FaZe Clan shares are going for $0.50 today. That means, most Paris Major 2023 stickers are more valuable than a Faze Clan share.
The new FaZe Paris CSGO glitter sticker is more expensive than a share of the company. 😅 pic.twitter.com/gYY96lQEeD
— Snake 🐍 (@TheSnipingSnake) May 5, 2023
FaZe Clan, renowned for its esports teams across a variety of disciplines, made history as one of the first esports organizations to go public. On June 2022, the company launched an initial public offering on NASDAQ. At that time, Faze Clan shares were priced $10 apiece.
Contrary to expectations, the value of the shares for the esports organization saw a significant drop at the beginning of 2023, and now stands at approximately 50 cents, falling below the stock exchange's mandated threshold of one dollar. FaZe reported a $53 million loss in their financial report for the fourth quarter of 2022, which shows that the organization's finances are in jeopardy at the moment.
FaZe is about to get delisted from the the NASDAQ because it's share price is too low. They have 180 days to turn the company around before it gets dropped from the exchange. I think this problem was caused by overvaluing the brand at $1 Billion to start with. pic.twitter.com/Aa3qCmjkGd
— Drift0r (@Drift0r) March 27, 2023
The shares price of FaZe Clan reached an all-time high of $17.4 on September 2, 2022. It is unclear why the spike happened, as the team did not celebrate any significant achievements during that time. The last notable victory was three months earlier when they won the Intel Extreme Masters XVII – Cologne by beating NAVI with a score of 3:2 and winning a prize of $400,000.
To add to FaZe’s financial embarrassment, a Twitter user pointed out that a Faze Clan glitter sticker is worth more than a Faze Clan share as of writing. In fact, most Paris Major 2023 player and team stickers are more expensive than a Faze Clan share at the moment.
Even with its current financial struggles, FaZe Clan are still one of the most recognized and beloved esports clubs globally, with a significant presence in numerous international tournaments and a massive global following. The club, nonetheless, must find a way to address its low share prices to avoid severe financial distress in the future.