Why Topgolf Callaway Rallied on Monday
Shares of Topgolf Callaway (NYSE: MODG) rocketed 11.3% higher on Monday, as of 1:16 p.m. ET.
The company, which owns the Callaway golf club and ball brand, as well as Topgolf driving range restaurants, rose on a disclosure that an insider purchased a significant amount of stock on the open market last week.
With the stock having been cut in half over the past year and 83% off its 2021 all-time highs, investors might have seen the insider buy as a sign the stock is bottoming.
Source Fool.com
