As this article is being written in late November, the stock is currently trading at slightly under fourteen dollars per share. Over the past fifty-two weeks, the stock had traded as low as $9.31 and as high $17.18. The entire golf industry is slowly emerging from a bad period caused by both a recession in Asia to increased competition which has forced golf manufacturers to lower their prices. Although Callaway Golf has lost money so far in 1999 and have no earnings this year, most analysts see a turn around in the year 2000 with estimates of earnings per share ranging between $.95 to $1.30. In late October 1999, Merrill Lynch upgraded their recommendation on Callaway Golf from a neutral rating to a recommendation to accumulate shares. Ely Callaway himself must feel strongly about the prospects of his company. Listings of insider trades filed with the Securities and Exchange Commission show that he recently bought two hundred thousand shares of his company. Clearly an investment of over two million dollars shows how confident he is in his company and its new products. The company has recently introduced the Great Big Bertha Hawkeye irons and metalwoods and are confident about their financial prospects for the future.