“Investing” in CS:GO skins and stickers is the talk of the town and right now the stickers of FaZe Clan are more expensive than their stocks! FaZe Clan’s financial problems in 2023 had come to a head. FaZe is one of the most well known Esports Organisations and also belongs to a rather small group of organisations that are traded on the Stock Market. They are traded on the Nasdaq, but only 9 months after they started being traded their price per share dropped from $13 to only $0.48. Now they face. As a result, FaZe faces expulsion from Nasdaq if its stock price does not improve.
FaZe Clan had high losses
FaZe ultimately suffered a net loss of $53.2 million in its first year of listing, despite rising revenues. Despite all the chaos, FaZe Clan’s professional teams performed well in their respective games, which can be seen especially in their CS:GO team. They recently made headlines by securing the Intel Grand Slam, then went into a sort of “slump” and barely managed to qualify for the BLAST.tv Paris Major. Being part of a Major means that Valve made stickers for them and their players (like they do for all teams that are part of the Major).
The new FaZe Paris CSGO glitter sticker is more expensive than a share of the company. 😅 pic.twitter.com/gYY96lQEeD
— Snake 🐍 (@TheSnipingSnake) May 5, 2023
Ironically, since the stickers were released, fans have pointed out that FaZe’s glitter skins are a bit more expensive than the organization’s stock prices. Even the Rio Major sticker, the cheapest of the stickers in FaZe’s name, and only one level better than a “paper”-quality sticker solls for $0.48. That’s the same price as FaZe stock as it stood yesterday. Although the paper stickers are significantly cheaper than the glitter stickers – the cheapest is $0.07 – they are not worth much because of their low quality visuals and are ignored by most enthusiasts.
FaZe forced to lay off employees
On February 17, Business Insider had reported that FaZe was laying off about 20% of its employees. An internal memo from CEO Lee Trink cited “uncertainty in the overall economy.”
FaZe Clan reportedly fired 20% of its employees after the organization's stock price continued to plummet.
FaZe clan CEO Lee Trink said they had to take necessary steps in response to "uncertainty in the overall economy" and an organizational focus on "financial discipline." pic.twitter.com/eV8k8HByhr
— GameRiv (@GamerivGames) February 17, 2023
The decision was made even though the company was experiencing “incredible growth,” according to Trink, who stressed that “financial discipline” will be a greater focus of the organization going forward. The news hit FaZe Holdings’ stock price. The share price had already been falling since mid-2022.
FaZe is not alone
Heroic and Astralis are also affected by financial difficulties. The shares of Astralis are worth $0.30, they are centered around their CS:GO division and weren’t particularly successful in the recent months. Most of their major stickers are also bought way above that amount. By the way, the stickers have never been released so late before the Major as this time. FaZe Clan’s CSGO team is legendary at this point.
— CS2 (@CounterStrike) May 4, 2023
They have spent most of their days in the top 10 of the world rankings and especially last year was very good for them. Faze won a Major and also cemented their form by taking the Intel Grand Slam. It seems like the players are not fazed by the financial trouble of their org! Hopefully the profits from sticker sales can help the organization. By the way, FaZe just played the kickoff match of the 2023 BLAST Paris Major on May