On Holding's (ONON) Management Is "So Good," Says Jim Cramer

We recently published 11 Stocks on Jim Cramer’s Radar. On Holding AG (NYSE:ONON) is one of the stocks Jim Cramer recently discussed.

Shoe retailer On Holding AG (NYSE:ONON) reported a blockbuster set of earnings yesterday after it raised its full-year guidance for the third time in a row. The results saw the firm post CHF794 million in revenue and CHF0.47 in earnings, both of which beat analyst estimates. On Holding AG (NYSE:ONON) also guided CHF2.98 billion (up from previous CHF2.91 billion) in full-year revenue, which beat estimates by a small margin. The short sellers of the stock have been on Cramer’s mind this year, as he posited in August that the firm would prevail. The shares are down 3% since then, but soared by 20% on Wednesday after the earnings. As he discussed the earnings, Cramer remarked that he’d expected the outperformance in the next quarter and commented on On Holding AG (NYSE:ONON)’s short sellers as well:

“On was just incredible. They’re basically doing the number I expected in like, next quarter. I’ve gotta tell you, those guys are so good, Hoffmann’s so good, no one seems to care. A lot of people shorted it. Big mistake.”

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Disclosure: None. This article is originally published at Insider Monkey.