Nadeshot says FaZe Clan’s stock price collapse is a “terrible thing” for esports
100 Thieves CEO Matthew ‘Nadeshot’ Haag has shared his thoughts on the ongoing drama surrounding FaZe Clan, including on their downward spiral on the stock market, calling it a “terrible thing” for the esports industry as a whole.
In July 2022, FaZe Clan officially went public on the NASDAQ stock exchange, opening with a $1 billion valuation. Since then, they’ve watched their share price drop massively, from a peak of $20 a share to a close, at the time of writing, of just $0.42, with a market cap of $30.7m.
This drop has been heavily documented online, as FaZe Clan’s stock plummets and the threat of being delisted grows ever more possible.
While they’re not the only esports organization to be listed publicly, they are certainly the biggest in terms of brand recognition, and that’s why Nadeshot says it’s such a big deal for the industry in general.
“Let me tell you this, and let me be abundantly clear,” the former Call of Duty pro said during a Twitch stream. “You could say it’s their own doing, and they f**ked us by jumping in and giving that a shot, their lack of success on the market is a terrible thing for the esports industry.”
He continued: “People look at that, outside investors or people who want to be a part of gaming, they won’t touch it with a 100-foot pole.”
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Of course, FaZe Clan have other issues going on around the business, with former members and founders/owners of the company speaking out against what it has become.
This has been highlighted predominantly by Nordan ‘Rain’ Shat, who joined the organization in September 2012, and Jakob ‘Teeqo’ Swaerden calling them out for what they believe to be poor business decisions and a lack of clarity over their roles with FaZe Clan.