What Happened?
A number of stocks jumped in the afternoon session after investors wagered geopolitical tension would be contained following the U.S. military's operation in Venezuela, with the Dow hitting a fresh record.
Sentiment remained firmly "risk-on" for early 2026, with Wall Street prioritizing domestic economic strength over foreign turbulence. Analysts noted that while the event raises short-term supply questions, the market largely viewed the potential stabilization of Venezuela's vast oil reserves as a long-term economic positive.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Leisure Products company YETI (NYSE: YETI) jumped 3.5%. Is now the time to buy YETI? Access our full analysis report here, it’s free for active Edge members.
- Leisure Facilities company Topgolf Callaway (NYSE: MODG) jumped 8.9%. Is now the time to buy Topgolf Callaway? Access our full analysis report here, it’s free for active Edge members.
- Toys and Electronics company Funko (NASDAQ: FNKO) jumped 3.3%. Is now the time to buy Funko? Access our full analysis report here, it’s free for active Edge members.
- Real Estate Services company Cushman & Wakefield (NYSE: CWK) jumped 4.7%. Is now the time to buy Cushman & Wakefield? Access our full analysis report here, it’s free for active Edge members.
- Education Services company Adtalem (NYSE: ATGE) jumped 6.8%. Is now the time to buy Adtalem? Access our full analysis report here, it’s free for active Edge members.
Zooming In On Topgolf Callaway (MODG)
Topgolf Callaway’s shares are extremely volatile and have had 40 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 7 months ago when the stock gained 15.2% on the news that Director Adebayo Ogunlesi announced he bought 383,700 shares valued at about $2.5 million. These transactions are often seen as a sign of leadership's belief in the company's strategic plan and potential for future growth.
Topgolf Callaway is up 10.9% since the beginning of the year, and at $13 per share, has set a new 52-week high. Investors who bought $1,000 worth of Topgolf Callaway’s shares 5 years ago would now be looking at an investment worth $524.19.
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