Diamonds and Dogs


A rebirth in golf. Callaway (ELY) is up 10% to a new high following strong earnings. Callaway easily beat expectations as sales rose 47% to $651 million. Golf equipment is seeing unprecedented demand and recovery from the pandemic faster than management expected. Callaway completed its purchase of Topgolf, which runs golf entertainment venues, in March.

Lumber is the hottest commodity. Home Depot (HD) is down 3% taking a hit with everything else. Home prices have surged at the fastest pace in 15 years due to a shortage of existing and new homes for sale. Skyrocketing lumber prices are also driving up prices for new homes. Lumber prices are up 340% in one year. Three months ago, lumber prices added $24,000 to a new house. Today, it is up to $36,000.

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