On Holding (NYSE:ONON) reported a 5.5% decline in its stock price after a research report from M Science indicated that the company is experiencing slowdowns in both the US and Europe during the second quarter. Despite a recent partnership with Zendaya, which was announced earlier this month, the boost seems to have been short-lived.
On Holding’s collaboration with Zendaya marks a multi-year partnership between the actor and the sportswear brand. However, despite this exciting news, On Holding’s short interest currently stands at 16%. This suggests that investors may be cautious about the company’s future prospects.
