House That Hank Built
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Atlanta Braves Morning Chop: Team isn’t the only thing Tanking

By Alan Carpenter

Original by Luis Villa del Campo from Madrid, Spain - Times Square - NASDAQ Market site TV Studio. Wikipedia.org, 2006. http://creativecommons.org/licenses/by/2.0/
Original by Luis Villa del Campo from Madrid, Spain - Times Square - NASDAQ Market site TV Studio. Wikipedia.org, 2006. http://creativecommons.org/licenses/by/2.0/ /
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Original by Luis Villa del Campo from Madrid, Spain - Times Square - NASDAQ Market site TV Studio. Wikipedia.org, 2006. http://creativecommons.org/licenses/by/2.0/
By Luis Villa del Campo from Madrid, Spain – Times Square – NASDAQ Market site TV Studio. Wikipedia.org, 2006; unmodified.  http://creativecommons.org/licenses/by/2.0/ /

Day 1 of Stock Trading for the Braves Leaves Team Behind, Looking for a Rally

Monday, April 18 was the first day that we as fans could purchase a piece of the Atlanta Braves…kinda.  BATRK – the new Atlanta Braves tracking stock – was available for trading on the NASDAQ exchange yesterday and immediately ran into first inning trouble.

BATRK price snapshot from this morning via https://finance.yahoo.com/q?s=BATRK&ql=0
BATRK price snapshot from this morning via https://finance.yahoo.com/q?s=BATRK&ql=0 /

Over half a million shares changed hands yesterday, and though the price opened at $27.00, selling pressure was very high as the team could not manage enough offense to sustain a rally.

UPDATE:  Approaching 11am, the price has now dropped below $17.70 a share with high volume and volatility.

Baseball metaphors aside, this stock was created to support the efforts of Liberty Media in building SunTrust Park.  Speculation has held that it is also a convenient means to also support a future sale of the team.  While that’s technically true (the convenience part, at least), don’t expect that to happen before all of the plans for Battery Atlanta are fully realized, opened for business, and making money.

Just a reminder:  because this is a tracking stock, this stock is not the same as buying an actually ownership stake in the company – as is the case with traditional stock purchases.  The price of BATRK should rise and fall with revenue reports, so there is the chance to make (or lose) money invested in it.

All that said, if you are indeed a long-term investor, this might not be a bad deal at all in the $15-19 range.  It would not surprise me at all to see this price triple by 2018-19 once the new revenue streams truly kick in.  Buy a few shares at regular intervals and then sit on it for a while.  The end of the game might have some surprises in store for you.

Next: Are You Mocking Me?

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