Los Angeles-based gaming outfit FaZe (NASDAQ:FAZE) went public with little fanfare and almost zero hype in stark contrast to its esports competitions and media platform. The company took the now largely dead road of using a blank check company to list its stock on NASDAQ in a deal that would value it at $725 million. It is now worth $338.6 million with the common shares 53% below SPAC’s benchmark price. The public market valuation had already shrunk by 25% since the deal was initially announced last year.

Can the company turn its huge social media following and esports legacy into concrete year-over-year revenue growth and eventual profit? It depends on who you ask. FaZe already has a small part of the bears that have been clear…