Why Topgolf Callaway Brands Stock Is Driving Higher Today
Topgolf Callaway Brands (NYSE: MODG) is reportedly seeking buyers for at least some of its golf manufacturing assets. Investors are intrigued by the possibility, sending Topgolf shares up 11% as of 10:45 Eastern.
Callaway is one of the biggest names in golf, a manufacturer of clubs, balls, and other apparel and equipment. In 2021 the company acquired Topgolf, a chain of golf-related entertainment centers, in an effort to appeal to a younger audience that might not want to commit to hours on the golf course.
The deal has so far not been a hit with investors. Topgolf Callaway shares today trade at less than half of their summer 2021 highs.
Source Fool.com
