I read an article in the Dallas Morning News today about the folks at Adams Golf and how they were hoping to capitalize on Tom Watson’s performance in the British Open. Watson has been an endorser for a decade and happened to be using Adams’ clubs and wearing a hat with their logo as he made his unlikely run at the British Open this past weekend.
CEO Chip Brewer tells the paper how great the exposure has been and how Watson is “the face and the heart and soul of our company.” On no news, the article points out, the stock was up a combined 18 percent, totaling momentum from Friday and Monday.
Shares are down sharply today perhaps because the people who might have bought stock in the company are finally realizing that sitting and clapping probably isn’t the best way to cash in on your association.
I’m not sure what their budget is but found it pretty remarkable that Adams Golf didn’t have a single ad for Watson (see The Greenbrier’s full page ad in USA Today).