So some local can buy!
Accustomed to being assessed by the standings, the Braves now have another daily gauge: the stock price. And by either measure, they are faring poorly.
As the Braves have settled into last place in the National League East, the team’s stock has fallen more than 50 percent from the level at which some of it opened trading on the Nasdaq exchange two weeks ago.
“This has been off-the-charts crazy,” Robert Routh, an analyst who follows Braves owner Liberty Media for New York-based FBN Securities, said of the team’s stock performance. “I never thought this would get as low as it has.”
The Braves stock was created when Liberty Media divided its holdings into three tracking stocks, each tied to a subset of the company. Investors now can buy and sell shares in the Braves separate from the rest of the Colorado-based conglomerate.
The Braves’ Series A shares (symbol BATRA) closed Friday at $15.64, down 56.5 percent from their opening price on April 18. The team’s Series C shares (symbol BATRK) closed Friday at $14.92, down 44.7 percent from their opening price on the first day of trading. The different series have different voting rights for shareholders. ( THE REST )
No comments:
Post a Comment