Jim Cramer says the
The golfing industry might be in for a windfall after Tiger Woods clinched his fifth Masters win on Sunday, CNBC’s Jim Cramer said.
« I think the golf renaissance is about to blow up thanks in part to the Tiger Woods effect, and right now the best pure play on the industry is Acushnet Holdings, » the « Mad Money » host said Monday. « That said, if you’d prefer something more beaten down, I still like Callaway down here. I just think it’s more risky. »
Cramer said superstars are great for selling merchandise and Woods’ decade-long comeback story could help trigger a faster recovery in the « seemingly boring sport » of golf. Interest in the game, typically popular among older generations, has picked up among millennials with the introduction of interactive concepts like TopGolf, he said.
The fun-focused TopGolf courses can be enjoyed by professionals and beginners alike.
Stocks connected to golf and Woods rallied on Monday.
Superstars are great at selling merchandise. Callaway and Acushnet gained 1.45% and 1.65%, respectively, while Nike gained 0.7%. The athletic apparel giant took a gamble in 2009 by keeping its sponsorship deal with Woods after years of negative headlines for the golfer.
