Why Topgolf Callaway Rallied on Monday
Topgolf Callaway's shares have been cut in half over the past year, and the company will execute a spinoff of Topgolf later this year. Shares of Topgolf Callaway (NYSE: MODG) rocketed 11.3% higher on Monday, as of 1:16 p.m. ET. The company, which owns the Callaway golf club and ball brand, as well as Topgolf driving range restaurants, rose on a disclosure that an insider purchased a significant amount of stock on the open market last week.