Riley Principal 150 Merger Corp (NASDAQ: BRPM) stock rallied 40.6% earlier today as investors reacted to plans by Faze Clan to list on the Nasdaq exchange next year via the Special Purpose Acquisition Company (SPAC).
Faze Clan is a popular gaming organization with over 350 million social media followers across various platforms and caters to gamers between the ages of 13-34 years.
The gaming group is based in Los Angeles and centers around competitive esports teams that play titles like “Call of Duty,” “Fortnite Battle,” “PUBG: Battlegrounds,” and “PlayerUnknown’s Battlegrounds.”
Investors reacted well to the news that saw BRPM stock rally higher during today’s and yesterday’s trading sessions.
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However, there is still a long way to go before Faze Clan is incorporated into the SPAC, with the gaming company saying it will officially list on the Nasdaq via the SPAC in Q1 2022.
The gaming company has attracted sponsorships from leading companies such as McDonald’s, DC Comics and Doritos.
The SPAC commented that: “FaZe Clan, sitting at the forefront of the creator economy, with deep roots in gaming and youth culture, is poised to become the leading digital content platform created for and by Gen Z and millennials.”
BRPM stock had given up most of its gains by the time of publishing as traders took profits on their positions.
*This is not investment advice.
BRPM stock price.
Source: Tradingview
BRPM stock price rallied 40.61% to trade at $15.72, rising from Monday’s closing price of $11.18.
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Simon ist Autor und Analyst für den Bereich Finanzwesen und blickt auf über sechs Jahre professionelle Erfahrung als Trader zurück. Er absolvierte einen Bachelor in Mathematik und Informatik und hat eine Leidenschaft für die Finanzmärkte. Simon handelt FX, Rohstoffe und Aktien. Er konzentriert sich auf Price Action Trading.
