Why Topgolf Callaway Stock is a Surefire Buy in 2023 and Beyond
There aren't many stocks that have survived the selling onslaught during the 2022 bear market. Many stocks deserved these price cuts because of their absurdly high valuation multiples and/or uncertain business models. However, investors have thrown out the proverbial baby with the bath water when selling stocks this year.
Golf conglomerate Topgolf Callaway Brands (NYSE: MODG) is one of these companies (it is down 25% this year), and it now trades at a cheap valuation. Here's why Topgolf Callaway is an easy buy for investors looking to hold for many years.
In early 2021, Callaway completed its merger with Topgolf, an innovative driving range and entertainment concept that is rapidly growing across the United States. Topgolf locations offer a fun atmosphere for golfers of all skill ranges, along with serving food and drinks, providing a perfect venue for parties and group events. Last quarter the segment did $414 million in revenue even though there are less than 100 locations open around the world.
Source Fool.com
