Strong Performance Boost for ONON

2 months ago

Nora Melinda

"Well, Paul, let's take a look at on holdings. This is a stock that's really been in focus a lot of today. That's ticker O N O N. Of course, we know this is a company that's backed by tennis uh player Roger Federer. We're seeing shares climbing as much as 28% in today's trade. This is the best day that we've seen for performance since 2023. And this is after it boosted its sales forecast for the year. There uh we did get some better than expected third quarter results as well. That's really buoying the stock higher. But we are thinking about a lot of sales that are happening both in Asia and Europe. It seems as though this sneaker is clearly a hit, especially as you pair it up to a lot of the competitors that it's really been rivaling during this time period. Nike, Under Arour. It seems like it might be the new shoe that everybody cares about right now."

The commentary highlights ONON's strong intraday performance, underpinned by boosted sales forecasts and better-than-expected Q3 results. The discussion also notes significant sales activity in Asia and Europe, emphasizing the brand's emerging competitive position, particularly in relation to established rivals.

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