NASDAQ to delist FaZe Clan if its share prize doesn’t grow back

FaZe Clan’s stock price has been below $1 for over 30 days; consequently, NASDAQ has notified the esports organization of its stock market deficiency. If the stock does not return to growth, it will be delisted from the stock market.

FaZe Clan may be delisted from the stock market.

FaZe Clan shares must rise above $ 1, and the price must be continuously maintained over ten business days. These are the conditions that the organization must meet to avoid delisting. The organization has 180 days to comply with these requirements. It is important to note that FaZe Clan shares have remained below $1 for over 32 business days.

Notification for FaZe Clan

The notification from NASDAQ for FaZe Clan was received on March 23. This notification informed that the organization does not comply with the minimum requirements for listing on the exchange. Additionally, NASDAQ reports that they have not met the minimum price of $1 for 30 business days.

In the same notice, the organization is informed that according to NASDAQ rules, they have 180 days to comply with the minimum bid requirement. In other words, FaZe Clan has until September 19 for its shares to increase and maintain their price.

As mentioned before, FaZe Clan’s share price has been below $1 for some time now. The value per share is $0.67, the lowest price so far; its peak was in August last year when the shares were worth almost $20.

Can FaZe Clan be delisted from the stock exchange?

The initial period to comply with the requirements is 180 days. However, the organization can ask for an extension of time if they do not meet the goals in that period. However, if they fail to meet the goal, NASDAQ may delist them from the stock exchange.

Due to the organization’s current situation, FaZe Clan’s management may consider taking the company private again.

As can be seen, the financial crisis that the industry is experiencing is also affecting the FaZe Clan organization. As a result, the organization has had to downsize in order to meet its financial targets. With this measure, it can be noted that FaZe Clan is currently experiencing a strong crisis.

FaZe Clan executives have commented that they have not been the organization they should be; however, they are working on a solution to the problems they are experiencing.

On the other hand, the founder of 100 Thieves, Matthew “Nadeshot” Haag, claims that FaZe Clan’s stock market situation is hurting other esports organizations.

Header: FaZe Clan