Sports entertainment, equipment and apparel stock Topgolf Callaway Brands
surged on Monday after a high-profile corporate director bought shares in the company.
Shares rose 11%, hitting their highest level since May 13.
The moves comes after board member Adebayo Ogunlesi purchased about $2.5 million worth of shares last week, disclosed in a securities filing on Friday.
Purchases by corporate executives and directors can sometimes be seen as a vote of confidence in the company, and this purchase comes from an insider with the type of resume that Wall Street likes.
