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Why Callaway Golf Rose 13% in December

Why Callaway Golf Rose 13% in December

Shares of Callaway Golf (NYSE: ELY) rose 13% in December, according to data provided by S&P Global Market Intelligence, continuing their strong performance after a 37.3% rise in November. Although there wasn't much new news in December, continued enthusiasm for Callaway and other "out-of-home" stocks pushed Callaway higher as we get closer to the wide distribution of a COVID-19 vaccine. In late October, Callaway decided to buy privately owned Topgolf, a large chain of deluxe driving ranges and entertainment centers.