Here's why you should buy the dip in this high-flying retail name

In partnership with

Navigate the Stock Market with these Free Daily Trade Alerts

• Master the market in 5 minutes per day

• Hot stock alerts sent directly to your phone

• 150,000+ active subscribers and growing fast!

Gain Free Access Here

Last Friday marked the worst day on record for Nike ($NKE) stock, which plunged 20% following multiple analyst downgrades. The company projected a 10% revenue decline for the current quarter due to uneven consumer trends and a mid-single-digit drop for the full year. This bleak outlook sent shockwaves through Wall Street, impacting all footwear and apparel stocks, including On Running ($ONON), one of the best-performing footwear stocks. Shares of ONON are down more than 15% in less than a month, after previously hitting record highs.

This downturn, accelerated by Nike’s disappointing earnings, is unrelated to On's underlying performance. On is rapidly gaining market share and is already deeply profitable, firing on all cylinders. The recent dip has created an attractive entry point for one of the most promising retail names on the market. Here’s why:

Subscribe to Premium Membership to read the rest.