Callaway's TopGolf Acquisition Is Fueling Topline Growth. Should You Buy Shares?
We're getting close to Memorial Day in the United States, which means it is almost summer. One activity many people around the globe will be participating in this summer is golf. The sport has grown in popularity during the pandemic --it's easy to social distance on the course -- benefiting equipment and apparel sellers like Callaway (NYSE: ELY).
However, Topgolf, which Callaway acquired in 2021, fared poorly during the earlier phases of the pandemic as social distancing efforts and the decline of in-person events cut into the traffic visiting its high-tech golf entertainment complexes. As we head into summer 2022, Topgolf is recovering nicely from its pandemic slump.
Yet, Callaway's stock is down 28% year to date. Does that mean it's a good time to buy shares?
Source Fool.com
