Atlanta Braves (Stock) Sinks

The Atlanta Braves have the worst record in the National League so far this year, and the tracking stock has mirrored the team's on field performance. Liberty Media, the owner of the Braves, issued tracking stock on Monday that tracks Liberty Media's Braves ownership. Tracking stock is stock that is intended to track the performance of a particular unit of the company. Tracking stock generally has no voting rights, but is often used to track the performance of specific units of the company and may occur ahead of a public offering. The Braves tracking stock was a sinker ball as the stock dropped 40 percent on the first day of trading, then about 10 percent the next day.