Why Did Callaway Golf Change Its Name?
There aren't too many publicly traded companies that share their ticker symbols with their founder's first name, and as of last week, there's one less. Callaway Golf -- founded by Ely Callaway in 1982 and hitting the market under the ticker symbol ELY a decade later -- officially changed its name and ticker symbol on Wednesday of last week.
It was the mother of all vanity plates, but the company has now been rebranded as Topgolf Callaway Brands (NYSE: MODG). Why did it happen? What's the point of the new ticker symbol? What are the implications for you as a former Callaway Golf shareholder? I'll cover all of that, but for now it's tee time. Let's try to steer you clear of landing in the rough.
Image source: Topgolf Callaway Brands.
Source Fool.com
