1 Growth Stock Down 38% to Buy Right Now

The S 500 is up 9% year to date, and with stocks rising, it's getting harder to find bargains. On Holding (NYSE: ONON) is a fairly new stock that's down 38% since its highs. It's climbing this year, but investors should still take a look at this high-growth stock.

You might have noticed people in your neighborhood wearing On's uniquely designed CloudTec running shoes, which The Wall Street Journal describes as looking like a "mouth in dire need of braces," or you might already be a fan. Swiss-based On has gained a large and loyal following of affluent fans who are willing to pay premium prices for its comfortable footwear. It has also developed a full line of athletic wear at prices similar to or even slightly more expensive than high-end sportswear giant Lululemon Athletica.

There's a confluence of factors that combine to make On look like a no-brainer stock right now. It's at the intersection of low brand presence and high growth, and as it continues to make itself known in new regions, there's ample opportunity to keep growth rates high. Its upscale target market gives it resilience despite harsh economic conditions, and its premium pricing and high full-price sales rate lead to robust profitability.

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Source Fool.com