Topgolf (MODG) His New 1-Year High on $1-Billion Sale of Entertainment Arm

We precocious published Lackluster Market? Not for These 10 Soaring Stocks. Topgolf Callaway Brands Corp. (NYSE:MODG) is 1 of the best-performing stocks connected Friday.

Topgolf rallied to a caller one-year precocious connected Friday, arsenic investors positioned portfolios amid reports that it is exploring a merchantability of its amusement concern for astir $1 billion.

At intra-day trading, the banal soared to its highest terms of $11.60 earlier trimming gains to extremity the time conscionable up by 6.52 percent astatine $11.27 apiece.

According to a study by Wall Street Journal, citing sources privy to the matter, Topgolf Callaway Brands Corp. (NYSE:MODG) is present successful talks with backstage equity steadfast Leonard Green & Partners for the imaginable takeover.

Pixabay/Public Domain

The determination followed announcements past twelvemonth that it would divided its businesses into 2 to absorption connected their strengths and capitalize connected the beardown maturation of its Callaway golden instrumentality and manner brand.

Meanwhile, Bloomberg reported past period that Topgolf Callaway Brands Corp. (NYSE:MODG) was besides considering a merchantability of its Callaway marque and that it was already soliciting interests from backstage equity funds and manner firms.

Earlier this month, the institution announced a 308 percent wider nett nonaccomplishment successful the 3rd 4th of the twelvemonth astatine $14.7 cardinal versus $3.6 cardinal successful the aforesaid play past year. Net revenues dropped by 7.8 percent to $934 cardinal from $1.012 cardinal year-on-year.

In different news, Topgolf Callaway Brands Corp. (NYSE:MODG) announced the hold of a multi-year licensing statement with Perry Ellis International Inc. for the design, manufacturing and organisation of Callaway-branded play and manner apparel done 2032. A caller premium Callaway Apparel enactment is besides expected to beryllium launched nary aboriginal than 2028.

While we admit the imaginable of MODG arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.