ONON stock drops 30% YTD, seen as a strong buy due to CEO stability and market opportunities.

ON Holding's stock has fallen about 30% year-to-date, creating a value buying opportunity disconnected from its strong fundamentals. Analyst Gary Alexander upgraded ONON to a strong buy, citing an overdone selloff and promising long-term prospects. The CEO transition to the company's co-founders is viewed positively, ensuring leadership continuity and a clear long-term vision. Additionally, Nike's recent challenges in China may allow ONON to gain market share in key international markets, enhancing its growth potential.