Why Investors Turned Off On Holding Stock Today
Investors weren't particularly eager to hold on to On Holding (NYSE: ONON) Wednesday. They traded the shares of the ambitious athletic footwear maker down by nearly 9% on the back of fresh quarterly results that obviously fell short of expectations.
This, despite the fact that On Holding characterized its third quarter as the strongest quarter in its history. That's because the company notched all-time-high sales of 328 million Swiss francs ($348 million) for the period, which was over 50% higher than in the same time frame one year ago.
On the bottom line, net income also saw notable improvement, rising by almost 60% to 20.6 million Swiss francs ($21.8 million), or 0.06 Swiss francs ($0.06) per share.
Source Fool.com
