On Running's recent selloff has created a great buying opportunity

The footwear market is known for its tough competition, making it challenging for new brands to break through and gain market share. However, On Running ($ONON) has defied this norm, emerging as a rare exception. In just 13 years since its founding, On has become one of the largest footwear companies globally, showcasing robust growth and rapidly rising profits amid a challenging macro.

Following a recent 100% rally, the stock has taken a breather, with ON shares falling about 25% over the past three months. This presents an interesting buying opportunity in one of the fastest-growing athletic wear brands. Let's delve a little deeper.

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