The US markets went through a downward trend on Thursday, May 5th, 2022. Stock markets saw huge losses after the Federal Reserve announced a bold decision on Wednesday. However, a few famous golf-related stocks can enter an avid golfer’s portfolio during these troubling times.

Top five golf stocks that are a must to own

The NASDAQ, S&P 500, and other markets fell drastically due to the Federal Reserve’s historic decision. As the markets in the United States remain bearish with a downward trend, some golf stocks can be bought by fans on the stock market. Let’s check out the list of the top five golf stocks that can be bought during the falling US markets.

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• Dick’s Sporting Good Inc: The famous American sports goods retail company was founded in the year 1948. The big name in sports brands is headquartered in Pennsylvania, United States. It was founded by Dick Stack at 18 and is now probably one of the biggest retailers that sell golf equipment and clothing in the US.
  The stock opened at a price of 100.77 on Thursday. It saw a high and low of 101.27 and 96.22, respectively. DKS ended at a low of 97.41 yesterday, which saw a percentage change of -5.16. As a result, during the dip in the market, it is one stock that maybe can be in the first spot in your portfolio.

• Acushnet Holdings Corp.: The company, which is in the second position, basically designs, develops and manufactures golf equipment all over the globe. They operate in four segments: Titleist golf balls, golf gear, clubs or equipment, and the Footjoy Golf wear. The ball segment manufactures all the balls under the brand, gear develops gloves and bags, and the club’s division develops all the Titleist irons and drivers and the Scotty Cameron putters.

  At the same time, the Footjoy division makes shoes and other apparel. The company opened on May 5th

  at 43.00 and saw a high and a low of 43.19 and 40.77, respectively. It finally closed at 41.47. As a result, it saw a percentage change of -3.94 and ended in red figures.

• Nike Inc.: Nike is probably among the top sports manufacturing brands globally. It sponsors top golf professionals like Tiger Woods and Rory McIlroy and its stock that one can have during the bearish trends. The stock sits in the third position. It opened at 124.11. Moreover, the stock had a high of 124.75 and a low of 116.52. It ended at 118.63 and had a percentage change of -5.89 on May 5th.

• Callaway Golf Company: Callaway is another famous equipment giant that makes world-class golf equipment. ELY opened at 21.45 and saw a high and a low of 21.57 and 20.43, respectively. However, it closed at 20.78 yesterday. As a result, the company saw a percentage change of -4.77. It is in the fourth position on the stocks one can buy during the dip.

• Big 5 Sporting Goods Corporation: Lastly, the BGFV is a stock that a golf fan can own. Along with its subsidiaries, the company operates in the Western part of the USA. As soon as the markets opened on Thursday, it had a price of 14.86. It was followed by a high of 14.89. At the same time, it saw a low of 14.01 and finally closed at 14.68. As a result, BGFV had a percentage change of -2.20%.

Why did the US markets fall on May 5th?

The Federal Open Market Committee made a historic decision regarding the interest rates on May 4th. They hiked the rates in what was the first instance of hiking interest rates back-to-back since 2006. It hiked the rates by 50 bps. As a result, the Nasdaq fell by more than four percent and the S&P 500 sank by three percent. Do you think the bearish markets will stay for long?

What do you think about the top five stocks to buy? Share your answers in the comments section below.

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