It’s been one hell of a ride for PXG of late.
In the parlance of the stock market, it basically shorted COVID-19, staked a strong inventory position and fundamentally changed its business, shifting from a premium-priced brand to a high-volume, low-price model that changed perceptions of the brand both inside and outside of the equipment industry.
While the result what likely a net positive—the company has more (and more vocal) supporters than ever—PXG appears to have hit a few bumps.
Being the most nimble brand in golf isn’t all upside. The company just had a round of layoffs (at least partially the result of its direct-to-consumer model and transitioning its brick-and-mortar locations to five-day work weeks). Given the volatility in its pricing model (which might be described as chaotic), golfers have come to expect that, even if a PXG product doesn’t launch at a discount price, it will get there pretty quickly.
Given all of that, it’s reasonable to expect some misguided takes (“PXG is going out of business!”) and a reasonable cohort of golfers who will respond to this story with, “I’ll just wait until they’re $200.”