The Charlotte Hornets have waived Nick Smith Jr. after his disappointing performance in the 2023-2024 season. The 27th overall pick in the 2023 NBA Draft, Smith Jr. failed to meet expectations and was waived before the 2025-2026 season. Smith Jr. averaged 8.0 points, 1.8 rebounds, and 1.8 assists in 18.9 minutes per game for the Hornets. His second season brought a steep regression as a shooter, plummeting to just 34.0 percent from deep after hitting an impressive 43.2 percent from three as a rookie. The crowded backcourt didn't help either, with LaMelo Ball, Collin Sexton, Tre Mann, Kon Knueppel, Brandon Miller, and Spencer Dinwiddie all offering more versatility or higher impact. Smith Jr. simply became the odd man out, as he was clearly a tier below the rest of the group. The Hornets knew Nick Smith Jr. was a draft bust after his second year as a pro, and now the Los Angeles Lakers are arriving at the same realization. Smith Jr. hasn't developed into the player they hoped he could become, and the flashes simply haven't outweighed the concerns. All signs point to Los Angeles declining his option and allowing him to hit free agency, ending another chapter in a once-promising prospect. The Lakers are about to come to that same realization as LA has better options to deploy who can provide more than just scoring. Their win-now timeline around Luka Doncic doesn't leave room for a one-dimensional scorer right now. Smith Jr.'s NBA career isn't over—there's still a path forward. A two-way contract or a developmental role on a rebuilding team could give him another shot.