Swiss Sneaker Maker On Plunges 14% After Weak Guidance

On, the Swiss sneaker maker, just had a rough day – its stock plummeted 14% after the company issued weak guidance. It’s entering the final year of its plan to double sales by 2026, and it’s not looking good.

The Goal: Be the Most Premium Sportswear Brand

On wants to be the crème de la crème of sportswear brands, but it won’t get there if it can’t meet its own growth targets. The company’s 2026 goal seems increasingly unrealistic, and investors are freaking out.

It’s not like On is asking for the moon here – just slower-than-expected growth. You’d think that’s not the end of the world, but investors don’t seem to care. They’re dumping the stock like it’s toxic.