On Holding (NYSE: ONON) experienced a 5.5% drop in its stock on Friday, following a cautious research report from M Science. The note from the firm stated that the company is currently facing a slowdown in the second quarter to date, with both the U.S. and European markets experiencing declines. Despite an earlier boost from its partnership with Zendaya, this collaboration has proven to be short-lived.
In fact, On Holding’s (ONON) short interest remains at 16%, despite the recent announcement of Zendaya as its newest brand partner for the On Running business. This partnership was expected to mark the beginning of a multi-year collaboration between the actor and sportswear brand. However, it seems that investors are still wary of investing in the company, given its current financial challenges.
