How much did Braves stock drop Tuesday?
Stock in the Braves fell again Tuesday, dipping about 9 percent on its second day of trading publicly.
Team owner Liberty Media debuted a Braves tracking stock this week, allowing investors to buy and sell shares in the team separate from the rest of the Colorado-based conglomerate.
Liberty Braves Group’s Series A shares (symbol BATRA on Nasdaq) dropped to $18.05 Tuesday, down $1.90 – 9.5 percent — from Monday’s closing price. Series C shares (BATRK) fell to $17.50, down $1.64 – 8.6 percent — from Monday’s close. The different series carry different voting power for stockholders.
The tracking stock is intended to reflect – or track – the economic performance and value of the Braves and the mixed-use development the team is building next to its new Cobb County stadium. The Braves remain part of Liberty Media, which also created two other tracking stocks for its other holdings.
On Monday – the first day of trading for the Braves stock — BATRA shares opened at $36 and closed the day at $19.95, down 44.6 percent from the opening price. Also Monday, BATRK opened at $27 and closed at $19.14, down 29.1 percent from its opening.
With Tuesday’s additional decline, the Series A shares now are down almost 50 percent from Monday’s opening price.
About the Author
Tim Tucker, a long-time AJC sports reporter, often writes about the business side of the games. He also had stints as the AJC's Braves beat writer, UGA beat writer, sports notes columnist and executive sports editor. He was deputy managing editor of America's first all-sports newspaper, The National Sports Daily.
