You might think that golf is a mature, unexciting business. But don't tell that to Callaway (NYSE: ELY), the maker of Big Bertha drivers and Odyssey putters. Golf is one of the few out-of-home activities that is relatively safe amid the COVID-19 pandemic, and the industry saw an incredible jump in play this summer. According to Callaway, September rounds played are up about 25% compared with last year.
Not only that, but Callaway just made a huge acquisition, betting big on what could be the tech-enabled future of the sport. In fact, the bet is so big that Callaway's recent acquisition is more like a merger of equals -- and it could either catapult Callaway into amore exciting growth stock status, or potentially sink it as well.
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Source Fool.com