Cramer Says ONON Stock Is a Winner - But Timing Is Key

We recently published a list of 10 Jim Cramer Stocks to Watch Amid Trump Tariff Wars. In this article, we are going to take a look at where On Holding AG (NYSE:ONON) stands against other stocks that Jim Cramer discusses.

Jim Cramer in a latest program on CNBC talked about the latest signs of de-escalation in trade wars between the US and China and told investors that even bear market rallies could be a positive sign. Cramer, however, believes the US government has yet to give any clarity on its policies on China.

“There’s a great misunderstanding about how real recoveries get started. They always start as bear market rallies, for heaven’s sake. They’re rarely based on hard facts. When you get this kind of rally, it doesn’t happen because someone gave you the green light to start buying. You don’t get a statement from the president that the trade war is over and everything’s back to normal.”

In addition to positive reports on the US-China tariff front, Cramer also mentioned the latest reports on President Trump’s stance on Fed Chair Jerome Powell, saying that the possibility of Trump firing the central bank chief seems to be “off the table.”

READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In.

For this article, we picked 10 stocks Jim Cramer recently talked about during his latest programs on CNBC. With each stock, we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

On Holding AG (NYSE:ONON)

Number of Hedge Fund Investors: 35

Jim Cramer was recently asked about On Holding AG (NYSE:ONON). He recommended investors wait for a pullback to buy the stock amid tariffs.

“We have liked On Holdings for some time. We actually started liking it in the 30s. We’ve had— we’ve been following the company multiple times. It is a high-multiple stock, same multiple around as Chipotle. I want you to buy the stock, yes, but I want you to let it come in first, because the market’s going to be looking a little peaked—off of these, frankly, off of the very high tariffs that many people weren’t expecting. But if you watch our show, you know they were coming.”

American Century Investments International Growth Fund stated the following regarding On Holding AG (NYSE:ONON) in its Q3 2024 investor letter:

“On Holding AG (NYSE:ONON). The stock performed well, helped by the introduction of new products and a positive price mix. The company has outperformed larger and more mature brands in its peer group like NIKE and Adidas. Demand remained strong across all regions, including Asia as the Chinese market improved.”

Overall, ONON ranks 9th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of ONON as an investment, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ONON but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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