FaZe Clan stocks have faced a massive dip in the stock market. This becomes worrying news for the eSports organization which could also send shockwaves to legendary rapper and FaZe Clan member Snoop Dogg, who sits with many shares in the company.

Recently, the stock market has been facing a stirring phase of dips and losses. A few months ago, former FTX CEO Sam Bankman-Fried concurred a huge loss of around $14 billion, leading his company to file for bankruptcy. This led to FTX’s name partner, TSM (earlier TSM FTX), a popular eSports organization to break its $210 million partnership. And it seems the eSports organization FaZe Clan, has felt the tremors of facing losses in the stock market.

Recently, there had been reports of FaZe Clan stock facing a massive dip in the market. Also, Twitch streamer Amouranth mocked buying FaZe Clan following a significant loss in their stock values. But the newest update suggests the stocks are less than a dollar.

Legendary Rapper Snoop Dogg could face a significant loss after the dip in FaZe Clan’s stock

Esports industry journalist Jake Lucky went on Twitter to propagate the news about FaZe Clan stocks. He tweeted, “FaZe Clan stock has dropped below $1, the “lockup period” is now also up for FaZe shareholders to be able to sell their stock.” 

As reported by the organization Forbes, FaZe Clan had agreed to welcome Snoop Dogg into their organization by giving him $1.9 million in stock as well as a spot on the company’s board of directors. Also, $248,000 worth of stock each was given to his son and the companies that were looked after by his manager and his spouse.

Trending

Angel Reese Lures Michael Jordan to Do Something Which He has Never Done, Courtesy of Chicago Roots

May 06, 2024 07:43 AM EDT

With 10 Days Left For PGA Championship, Scottie Scheffler’s Future Thrown Into Disarray by New Report

May 06, 2024 05:16 PM EDT

10 Years After Backing Serena Williams’ Husband Alexis Ohanian’s Now $10 Billion Undertaking, Snoop Dogg Receives a Heartfelt Note

May 06, 2024 11:05 AM EDT

Lakers News: Headache for Jeanie Buss and Rob Pelinka, as Ex-Coach Shuts Door on LA Return Following Ty Lue Decision

May 06, 2024 03:30 PM EDT

“This Is Just Sad at This Point” – MMA World Erupts as Alex Pereira Embarrasses Anthony Smith in Front of Thousands at UFC 301

May 05, 2024 05:04 PM EDT

Get instantly notified of the hottest stories via Google! Click on Follow Us and Tap the Blue Star.

Follow Us

“Those Are S-Tier” – Logan Paul and FaZe Banks Discusses Their All-Time Favorite Call of Duty Titles

However, it is understood that after such a dip that makes their stock less than a dollar, the legendary rapper could be facing a significant loss as the price of the stocks during the deal would have been higher than what they are now. It is important to note that being a member of the board of directors the rapper could stir a significant change in the present state of the esports organization’s state.

How did the fans react to the news?

As the news hit the internet, the fans were nothing but surprised to witness the dip. A Twitter user said, “I knew I should’ve shorted this sh*t.” Another Twitter user said, “Feel bad for the founder man they deserve the success/ money but business decisions are messing them up.” To get a vivid view, here are the reactions of the people:

Do you think FaZe Clan could recover from this? How can they move ahead from here? Do tell us your thoughts in the comments below.

WATCH THIS STORY: Ranking the Highest Selling Call of Duty Titles of All Time