On Trading (ONON) Slides 3.28% on $320M Volume Ranks 395th Amid Mixed Retail Demand and Market Volatility

On Oct 1, On Trading (ONON) closed at a 3.28% decline with $0.32 billion in volume, ranking 395th in market activity. The stock faced renewed pressure amid mixed retail demand signals and broader market volatility.

Recent reports highlighted conflicting trends in the athleisure sector, with some analysts noting reduced consumer spending on premium activewear collections. The company’s latest product launches showed uneven reception across key markets, while supply chain adjustments continued to impact short-term inventory management. Institutional ownership data revealed shifting positions among major funds, though no single stakeholder altered its position by more than 1.2% in the last reporting period.

Technical indicators showed bearish momentum as the 50-day moving average crossed below critical support levels. Short interest remained stable at 7.8% of float, with no significant changes in borrowing costs observed in the derivatives market. The stock’s recent performance diverged from sector benchmarks, which posted marginal gains amid easing inflation concerns.

To build an accurate daily-rebalanced back-test I need to confirm a few practical details: 1. Should we rank all U.S. listed common stocks each day, or limit the pool (e.g., S&P 500 constituents)? 2. Enter at next day’s open and exit at that day’s close, or enter at today’s close and exit at tomorrow’s close? 3. Assume zero for a “clean” first pass, or add a per-trade cost? With these points clarified I can fetch the necessary volume data, generate the daily portfolios, and run the one-day-hold back-test from 2022-01-03 to today.