Atlanta Braves Have Issues But Plunging Stock Isn't One of Them
- Tracking shares in Liberty Braves tumble from opening price
- Combined value of Liberty assets not far from prior levels
This article is for subscribers only.
Yes the Atlanta Braves look awful, and tracking stocks may be a relic of Wall Street’s go-go days. But no, shareholders of Liberty Media’s baseball assets have not seen the value of their holdings halved since stock assigned to them was introduced on Monday.
Much has been made of the plunge in Liberty Braves Group Class A and C tracking shares since their first trades at 9:30 a.m. Monday in New York. The A shares in particular look like lemons, entering the market at $36 and then ending the day at $19.95.