2024-03-20 09:00:00 ET
Shares of On Holding (NYSE: ONON) , better known as On Running, got hit immediately following the company's last earnings update. The last 12 months have been bumpy for the running shoe company due to currency exchange rate headwinds, an effect that the market seems to forget about every three months when the Swiss company provides an earnings update.
Leaving out these economic forces beyond its control, though, On actually had a stellar 2023 as shares rallied from bear market lows. On is expecting its growth sprint to continue into 2024. Is it time to buy the dip?
First, in full disclosure, after following this shoe company since its IPO (and my wife, a runner, since before the IPO), I finally bought my first batch of On stock late in 2023 . But as explained in past analyses, this has been (and will continue to be) a stock at the mercy of the Swiss franc -- at least to some extent.
For further details see:
Time to Buy the Dip in This High-Growth Shoe Stock?