If you figuratively bought stock in the Atlanta Braves last Monday, in the midst of a 4-game winning streak, you’re probably not too happy right now.
If you literally bought stock in them last Monday, you’re probably a lot madder.
On April 18, the owner of the franchise, Liberty Media, began selling Braves stock on the NASDAQ exchange under the name “BATRA.” That Monday morning, it opened at $36, according to CNBC.com.
(Also read: We now know the dimensions of the SunTrust Park field )
By the end of the trading day, the stock had declined to $19.95, nearly 45 percent below the opening price, AJC.com said. Eight days later, at the end of trading on Tuesday afternoon, Braves stock was just $15.02.
Since they say “buy low,” now would be a better time than eight days ago to purchase Braves stock.
“The Braves stock is intended to reflect – or track – the economic performance and value of the team and its stake in a mixed-use development being built alongside a new Cobb County stadium,” said AJC.com.
After a 4-16 start, I’d say the Braves’ on-field value has been in lock-step with its stock prices. Braves stock has had only one winning day since trading opened, and the Braves have gone 1-7 since April 18.
And yes – the one day of gains on the stock market followed the lone victory.
Perhaps we should see how bad this gets before we start loading up on Braves stock. But I’m no financial planner.
Image via CNBC.comFollow @Sean_Breslin