Shares of golf equipment makers Acushnet Holdings Corp.
and Topgolf Callaway Brands Corp. rallied for a second-straight day toward one-month highs Wednesday, in the wake of the shock announcement that The PGA Tour, Europe’s DP World Tour and the Saudi Arabia-backed LIV Golf circuit have agreed to merge. The stocks have been rising because as Jefferies analyst Randal Konik said, the merger has made the game of golf a little more interesting. “The recent announcement has undoubtedly caught the golf industry by surprise,” Konik wrote in a note to clients.
and Topgolf Callaway Brands Corp. rallied for a second-straight day toward one-month highs Wednesday, in the wake of the shock announcement that The PGA Tour, Europe’s DP World Tour and the Saudi Arabia-backed LIV Golf circuit have agreed to merge. The stocks have been rising because as Jefferies analyst Randal Konik said, the merger has made the game of golf a little more interesting. “The recent announcement has undoubtedly caught the golf industry by surprise,” Konik wrote in a note to clients.
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