Golf Stocks Jump as PGA-LIV Deal Seen Fueling Sport’s Growth

Topgolf, Acushnet hit session highs after the announcement
Jefferies says surprise pact could bring ‘golf to new heights’

WATCH: The PGA Tour and rival LIV Golf have agreed to merge, ending a two-year dispute between the two organizations. Scarlet Fu reports.Source: Bloomberg

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By Katrina Compoli

June 6, 2023 at 5:10 PM UTC

Updated on

June 6, 2023 at 8:26 PM UTC

This article is for subscribers only.

Topgolf Callaway Brands Corp. and Acushnet Holdings Corp. climbed after the shock announcement that the PGA Tour will merge with Saudi-backed rival LIV Golf, with Jefferies projecting the deal will drive more interest in golf.

Topgolf, which makes golf equipment and operates a chain of high-tech driving ranges, gained 5.5% in the biggest advance in nearly seven months. Golf gear peer Acushnet rose 4.5%.