Acushnet Holding rallies after new index inclusion

Acushnet Holdings Corp. (NYSE:GOLF) jumped in early trading on Tuesday on news that the company will be replacing Retail Opportunity Investments (ROIC) on the S&P SmallCap 600 Index on February 13. The change in the index composition is significant for Acushnet Holdings (NYSE:GOLF) as it represents an important milestone for the company's market presence and visibility.

Looking ahead, the golf industry company is set to launch FootJoy's FitLab this year. FootJoy FitLab is an innovative golf shoe fitting experience that FootJoy has developed to help golfers find their perfect fit and optimize their performance on the course.

FitLab utilizes state-of-the-art technology to provide a comprehensive fitting experience. A Volumental 3D foot scanning device creates a detailed digital rendering of the golfer's feet. The scan measures 15 different dimensions that affect shoe fit, including length, width, arch height, instep, and heel width. The results are displayed on a large screen, allowing golfers to visualize their foot characteristics.

The new product initiative is seen as demonstrating Acushnet's (GOLF) commitment to innovation and expanding its footwear offerings.

Shares of Acushnet (GOLF) were up 8.3% at 9:59 a.m. to $69.56 vs. the 52-week trading range of $58.54 to $76.65. Short interest on GOLF stands at 6.3% of the total float. The Seeking Alpha Quant Rating on GOLF is flashing Hold.