Is It Too Late to Buy On Holding's Stock?
Members of the running community have recognized On Holding's (NYSE: ONON) shoes since before the Swiss company went public in Sept. 2021. The unique treads, elastic no-tie laces, and company logo were already becoming prominent at local races before that initial public offering (IPO) date.
On raised about $750 million from its IPO, and that capital has helped the company grow the brand quickly. As the shoes have become more ubiquitous, investors have caught on, too. While still below its all-time high made shortly after the IPO date, On's stock price has increased by more than 75% year to date, making some investors wonder if it's too late to buy shares now.
While On is more than a decade old, its brand awareness has skyrocketed since it entered the public markets. Global net sales increased 68% in 2022 versus the prior year, and the company expects at least 43% annual sales growth in 2023. While its footwear is sold in over 60 countries, it is growing fastest in the Americas region. With a nearly 92% year-over-year increase in sales in the Americas in the first quarter, it's not surprising to be seeing the shoes more and more.
Source Fool.com
