ONON’s Trading Volume Plunges 28.87% to $690M, Ranking 169th as Shares Drop 3.25% on Supply Chain Shifts

On August 13, 2025, On Holding (ONON) reported a trading volume of $690 million, a 28.87% decline from the previous day, ranking 169th in market activity. The stock closed down 3.25%, reflecting mixed investor sentiment ahead of its upcoming quarterly earnings report. Recent supply chain updates indicated a strategic shift toward regional manufacturing, with 40% of production now sourced from Southeast Asia to mitigate logistics risks. Analysts noted this move could stabilize margins but may delay product cycles by 8-12 weeks.

Market participants observed heightened short-term volatility linked to the company’s product launch calendar. A planned rebranding of its Trailrunning division, announced in early August, has triggered mixed reactions among institutional investors. While the initiative aims to expand into emerging markets, internal restructuring costs are expected to weigh on Q3 margins. Retail sales data from key markets showed a 7% sequential increase in June, though this growth slowed to 2.3% in July amid broader economic uncertainty.

Backtesting of a volume-weighted trading strategy revealed consistent performance metrics. The approach of selecting top 500 stocks by daily trading volume and holding positions for one day generated a compound annual growth rate of 6.98% from 2022 to 2025. The strategy recorded a maximum drawdown of 15.46% in mid-2023, coinciding with broader market corrections. Despite this, the strategy maintained steady growth, demonstrating resilience during periods of heightened volatility.