The world of sports footwear and apparel is witnessing a sea change, or so it would seem. The long dominance of (NYSE: NKE) and Adidas is being challenged by smaller, specialty brands like On Holding (NYSE: ONON) and Deckers Brands' Hoka.

To be sure, Nike still owns the largest slice of the pie, but its grip is slipping and its stock price has taken a beating for it. Nike shares are down 24% so far in 2024, having plunged nearly 20% in a single day after its fiscal fourth-quarter 2024 earnings were released in June.

On Holding, on the other hand, saw its share price soar this year, up nearly 70% since the markets opened in January. The two companies look to be on different trajectories, at least at first glance, so which is the better stock?

Continue reading

Source Fool.com