The golfing industry might be in for a windfall after Tiger Woods clinched his fifth Masters win on Sunday, CNBC's Jim Cramer said.
Superstars are great at selling merchandise. Callaway and Acushnet gained 1.45% and 1.65%, respectively, while Nike gained 0.7%. The athletic apparel giant took a gamble in 2009 by keeping its sponsorship deal with Woods after years of negative headlines for the golfer. Woods' victory on Sunday is reportedly worth $22.5 million for the sports apparel brand.
Cramer first recommended Callaway in 2016 when the stock was at $11.50. The golf equipment seller climbed north of $24 last September before dropping to about $14 during the fourth-quarter sell-off, he said. The stock finished trading at $16.78 on Monday. The host said the stock is cheap at current levels, selling at about 15-times earnings.
Hooters, viagra, and spiramint rhino?
Or 2007 all over again?
Disney on a serious roll. $T selling back the 10% of Hulu they own for about $1.5 bil. Now it’s just Disney and Comcast. I really like where Disney is at. $dis $cmcsa TaxDay TaxDodgingTwat
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