MODG.N Drops as 20-Day SMA Crossed Amid Sale News
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 23 2025
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Source: Globenewswire
Shares of MODG.N declined sharply today, falling 6.25% to $10.20 in premarket trading. The stock crossed below its 20-day simple moving average, indicating a shift towards bearish momentum. This movement follows the announcement that Topgolf Callaway Brands will sell a 60% stake in its Topgolf unit to Leonard Green & Partners for approximately $770 million, valuing the business at $1.1 billion. The strategic decision aims to allow Topgolf Callaway to refocus on its core golf equipment brands, a move that has raised concerns among investors about the company's future direction and profitability.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
