EXEC: On Holding Shares Hit 52-Week Highs as Q1 Results, DTC Gains Please the Street

May 14, 2024

On Holding AG pushed first quarter net sales past the half billion Swiss francs (CHF) mark for any quarter in its relatively short history, and did so with nearly 30 percent growth for the period ended March 31.

The strong Q1 results made Wall Street forget about the tumultuous day following the last quarter report that saw ONON shares fall in the mid-teens after the earnings release and conference call in March before taking back some energy in the afternoon to close down less than 9 percent to $30.63 to end the day. At issue at the time was an apparent “miss” against the profit number the analysts were expecting.

But that was March. And it may as well been 1999, as the company today hit 52-week highs in its stock price, on its way to closing up 18.3 percent for the day at $36.30. SGB Media