LikeFolio’s Megan Brantley says consumer demand for On Holding (ONON) is accelerating ahead of earnings, with purchase intent, direct-to-consumer strength and web traffic trending higher. Consumers are also switching from brands like Hoka and Brooks to ONON, helping it stand out in a challenging footwear sector that includes Nike (NKE) and Lululemon (LULU). Brantley says the divergence between growing consumer demand and ONON’s stock performance creates a bullish setup, with product innovation providing another potential long-term catalyst.