• News

FaZe Clan stock begins trading following $725 million SPAC deal

FaZe Clan (FAZE) stock is officially trading after the close of its B. Riley Principal merger.

Donovan Erskine

July 20, 2022 9:00 AM

FaZe Clan

2

It was back in October of last year when FaZe Clan announced that it would become a publicly traded company. The esports and gaming content organization has now completed its $724 million SPAC merger with B. Riley Principal 150 Merger Corp. and has now begun trading under the stock ticker FAZE on the NASDAQ.

When markets opened this morning, FaZe Clan (FAZE) stock began trading on the NASDAQ, marking a huge first for not only the organization, but gaming and esports as a whole. FaZe Clan CEO Lee Trink provided a statement as the company’s stock hit the market.

FaZe Clan (FaZe) stock dropped fairly harshly following the opening of markets. At the time of this writing, it’s down 29 percent on the day, valued at $9.21 per-share, according to CNBC’s stock quote. It’s certainly not good news for FaZe Clan, but it’s still incredibly early to get a full idea of how the stock will perform long-term. FaZe Clan has referred to itself as the first content creator organization and Gen Z-oriented brand to go public, and believes it will be key to their performance on the market. We’ll be keeping an eye on FaZe Clan (FaZe) stock, and will be sure to report any interesting developments.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_