“I Mean There Are No More 97 Percent for Them to Go Down”- Pokimane Reacts to the Extreme Declination of the FaZe Stocks
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The stock market is one of the most uncertain places for investment. One day the market is up, another day it is down. All it takes is immense courage and patience to be in the stock realm. But the recent scenario of the FaZe clan is not going well as far as stocks are concerned.
Recently, the Stock prices of the FaZe clan have gone down to their lowest level since last year. This is the lowest they have ever sunk. In this situation, Pokimane, the famous Moroccan-Canadian streamer reacts to the stock prices of FaZe and also gives her opinion in one of her videos. Let’s dive into this article and explore more.
“Money to Be Made Surely”: Pokimane Comments on the Situation
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In a recent video on one of her YouTube channels, Pokimane shared her views on the stocks of FaZe Holdings Inc. She was literally shocked to see the results. She showed the fans the stock prices, which were going on at just $0.394 each. In the last year, the stock price has dropped by 97.24%, which means FaZe stocks faced a price drop of $13.91.
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Pokimane said sarcastically, “There’s money to be made surely“, as after this huge drop in stock prices, it’s unlikely to see the stock prices go any further higher in the near future. In the past month as well, FaZe Holdings saw a downfall of 18.82% as far as stock prices are concerned. “By one, they are low”, Pokimane says, addressing the critical situation of the FaZe Clan. “I mean, there are no more 97 percent for them to go down”, she added in a cryptic way.
The Reason Behind FaZe’s Downfall
FaZe is one of the biggest and most popular Esports and entertainment organizations in the world. This American organization has esports teams across a wide array of games like CS:GO, Call of Duty, Rainbow Six Siege, PUBG, Valorant, Fortnite, and many, many more. This $40 million gaming empire was founded in 2010 by Eric Rivera, aka CLipZ, Jeff Eman, aka Timid, and Ben Christensen, aka Resistance. Although it debuted as a public company last year, people could still buy the company’s stocks.
We know that for too long we haven't been the FaZe we need to be, but we’re working hard towards fixing that.
We hope to have all the OGs sit down together soon, and we don't want to do that without everyone. We’ll do everything in our power to work this out & not let you down.
— FaZe Clan (@FaZeClan) March 22, 2023
There are various reasons why the stock prices of FaZe have sunk so low. One major reason is the investor’s confrontation with the $100 million that was supposed to be delivered as liquid capital. Many of the content creators in the clan were hugely underpaid, making them leave the organization.
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Famous American rapper Snoop Dogg, who was also on the board of the FaZe clan, has left the team. Also, four FaZe clan members were involved in a big cryptocurrency scam: Kay, Jarvis, Nikan, and Teeqo. This is also one of the major reasons for this huge downfall.
And the most shocking part is that they have already gotten a notice of delisting from Nasdaq, and they are also threatened that if the stock prices don’t go up above $1 in the next few months, they will be delisted from Wall Street.
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The FaZe clan right now is in absolute turmoil. And we are hardly seeing any possibilities of revival from this situation. Pokimane also thinks the same, as she shared her comments about this critical situation.
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Edited by:
Harshita