On Holding AG Surges to 327th in Daily Rankings with $360 Million Turnover Despite Stock Price Drop

On July 22, 2025, On Holding AG (ONON) experienced a significant increase in trading volume, with a turnover of $360 million, marking a 61.25% rise from the previous day. This surge placed ONON at the 327th position in the daily stock market rankings. However, the stock price of On Holding AG (ONON) fell by 5.36%.

Raymond James analyst Rick Patel announced a downgrade for On Holding AG (ONON) on July 22, 2025, shifting the company's rating from "Strong Buy" to "Outperform." This decision was influenced by near-term macro pressures, including currency volatility and tariff headwinds. Despite these challenges, Raymond James remains optimistic about the company's long-term growth prospects.

The downgrade by Raymond James was attributed to expected macroeconomic challenges, particularly a slowdown in wholesale performance in the upcoming quarter due to the timing of product launches. The firm maintained a price target of $66 for ONON, reflecting its confidence in the company's future performance.