1. Topgolf Callaway Brands' shares have plummeted 47% in 2024 and 79.3% from their peak, but the decline seems extreme given the company's fundamentals. 2. Management plans to split Topgolf and Callaway Golf Company, aiming to unlock value despite recent financial struggles and increased debt. 3. Despite market skepticism, the author maintains a strong buy rating, believing the separation will reveal undervalued assets and present a compelling investment opportunity.