On Holding (NYSE: ONON) has taken investors on a wild ride since its IPO. The Swiss footwear and sportswear maker went public at $24 in September 2021, and its shares soared to an all-time high of $51.45 just two months later.

But over the following two years, On's stock lost nearly 50% of its value as rising rates and other macro headwinds crushed the market's pricier growth stocks.

Let's see why that sell-off might represent a buying opportunity for patient investors.

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Source Fool.com