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Shares of Topgolf Callaway Brands (NYSE: MODG) rallied as much as 18.3% on Thursday, before settling in to a 12.6% gain as of 11:35 a.m. EDT. Topgolf Callaway is having a big bounce off its lows ...
Over the past few days, investors have not generally been willing to tee up with the stock of Topgolf Callaway Brands (NYSE: MODG). According to data compiled by S&P Global Market Intelligence, as ...
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On August 24, 2022, Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. [20] Effective September 7, 2022, Topgolf Callaway Brands Corp. changed its ticker symbol on the New York Stock Exchange from "ELY" to "MODG".
At the time, Callaway held a 14% share of Topgolf. [19] Callaway had invested in Topgolf since 2006, with CEO Chip Brewer serving on the Topgolf board since 2012. [20] In October 2023, Topgolf Callaway successfully completed the acquisition of its competitor, BigShots Golf, for a sum of $29 million.
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This was the reason Golfsmith owed $5.5 million to Callaway Golf Co., $5.1 million to Taylormade Golf Co. Inc., $3.5 million to Nike, $2.3 million to PING Inc. and $2.1 million to Titleist. Golfsmith CEO David Roussy blamed "a recession-driven decline in golf participation and an oversized brick-and-mortar retail presence" for its situation.
Callaway (ELY) could produce exceptional returns because of its solid growth attributes.