Why On Holding Stock Ran Nearly 21% Higher Today

Shares of newly public company On Holding (NYSE: ONON) were up nearly 21% today as of 11:40 a.m. EST. The Swiss running shoe company released an exceptional third-quarter 2021 earnings report, the first since the initial public offering in September. Revenue increased 68% year over year to 218 million Swiss francs ($234 million). Sales through the first nine months of 2021 are now up 77% compared to 2020 to 534 million Swiss francs ($575 million).

Shares of On are now up 27% since they began trading on stock exchanges just a couple of months ago.  

Image source: Getty Images.

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Source Fool.com