Shares in golf manufacturer Callaway fell to $12 (£6.13) last week after an analyst claimed that the firm''s new products have not been as well-received as it had hoped.
According to the Associated Press, Callaway shares closed the week at $12.29 after dropping to $12 on Thursday – their lowest level in 52 weeks.
The new I-MIX line of interchangeable club shafts and heads has been blamed for the decline, with analyst Rommell Dionisio of Wedbush Morgan Securities stating that sales of the new products have been disappointing for Callaway.
"Retailers primarily cited the high price and considerable shift in buying behaviour required as the major reasons why the I-MIX has not gained popularity thus far," he explained.
Mr Dionisio also said that poor weather and growing competition in the "highly profitable" category of products is having a negative impact on golf firms in general.
Golfers with Callaway endorsements include world number two Phil Mickelson and Rocco Mediate, who faces Tiger Woods in an 18-hole playoff at the US Open today.
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