Long Trade in ONON
ONON is the maker of the popular OnCloud running shoes.
The company has experienced tremendous growth over the last few years. I even see it here. They are on the feet on every soccer mom in town.
Last month’s earnings report blew away expectations and shares advanced almost 50% in a week.
Since then, pullbacks have been minimal.
This is a recent IPO, and it is quickly becoming a true market leader.
I am writing this at noon on Friday, and the stock is currently trading near $31. I believe the stock is buyable here with a stop loss at 28.20 to risk 8% on the trade.
The company has experienced tremendous growth over the last few years. I even see it here. They are on the feet on every soccer mom in town.
Last month’s earnings report blew away expectations and shares advanced almost 50% in a week.
Since then, pullbacks have been minimal.
This is a recent IPO, and it is quickly becoming a true market leader.
I am writing this at noon on Friday, and the stock is currently trading near $31. I believe the stock is buyable here with a stop loss at 28.20 to risk 8% on the trade.
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