It’s emerged that the share price of Under Armour, the US sportswear firm, fell in value by $140m within minutes of Jordan Speith missing his putt on the 18th green at St Andrews on Monday night which effectively ended his challenge to win the British Open title.
The development reaffirms the ever-deepening ties between investors and the achievements of major sports stars and their sponsors, and the speed at which investors react to real time events.
This particular instant sell-off was unusual however, as stock markets would normally be closed on Sundays, the traditional final day of major golf and other high profile sports tournaments such as motor racing and tennis events.
Under Armour signed a 10-year deal with the young golfer just before he secured his first major win at the 2015 Masters at Augusta - it stipulates that he must be kitted out head-to-toe in the company's gear when he takes to the course.
It is unclear how much the deal is worth - but it seems that gambling on the youngster before his first big win was a savvy move as he has since become the hottest rising-star in world golf.
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