On Stock Slides -9.2% With A 5-Day Losing Spree
On (ONON) – a developer and distributor of athletic footwear, apparel, and accessories – hit a 5-day losing streak, with cumulative losses over this period amounting to -9.2%. The company’s market cap has crashed by about $2.4 Bil over the last 5 days and currently stands at $24 Bil.
Sustained weakness can be more than noise. It often signals shifting sentiment or deeper concerns. A multi-day losing streak may warn of further downside, or present an opportunity to buy if fundamentals are intact.
But here is the interesting part. You are reading about this -9.2% move after it happened. The market has already priced in the news. To manage individual stock risk before the headlines, you need predictive signals, not notifications. High Quality Portfolio has a risk model designed to manage stock-specific drawdowns better.
Returns vs S&P 500
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The following table summarizes the return for ONON stock vs. the S&P 500 index over different periods, including the current streak:
| Return Period | ONON | S&P 500 |
|---|---|---|
| 1D | -1.0% | -2.6% |
| 5D (Current Streak) | -9.2% | -2.6% |
| 1M (21D) | 2.8% | 0.3% |
| 3M (63D) | -10.6% | 9.6% |
| YTD 2026 | -20.2% | 7.9% |
| 2025 | -15.1% | 16.4% |
| 2024 | 103.1% | 23.3% |
| 2023 | 57.2% | 24.2% |
Gains and Losses Streaks: S&P 500 Constituents
There are currently 74 S&P constituents with 3 days or more of consecutive gains and 42 constituents with 3 days or more of consecutive losses.
| Consecutive Days | # of Gainers | # of Losers |
|---|---|---|
| 3D | 41 | 22 |
| 4D | 26 | 17 |
| 5D | 7 | 3 |
| 6D | 0 | 0 |
| 7D or more | 0 | 0 |
| Total >=3 D | 74 | 42 |
Key Financials for On (ONON)
Last 2 Fiscal Years:
| Metric | FY2024 | FY2025 |
|---|---|---|
| Revenues | $2.3 Bil | $3.0 Bil |
| Operating Income | $211.5 Mil | $377.0 Mil |
| Net Income | $242.3 Mil | $203.7 Mil |
Last 2 Fiscal Quarters:
| Metric | 2025 FQ4 | 2026 FQ1 |
|---|---|---|
| Revenues | $743.8 Mil | $831.9 Mil |
| Operating Income | $82.5 Mil | $117.4 Mil |
| Net Income | $69.1 Mil | $103.3 Mil |
The losing streak ONON stock is currently on doesn’t inspire much confidence among investors. In contrast, Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.