$ONON

3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run

On Holding (ONON), Grocery Outlet (GO), and Birkenstock (BIRK) are trading below recent highs despite strong fundamentals. ONON reports 34% YOY DTC growth, GO is streamlining operations, and BIRK shows healthy brand demand. All three face macro challenges but have strong long-term prospects.

Original reporting
Published Aug 24, 2026, 1:00 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Aug 24, 2026, 1:06 AM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
AlphAI market briefFinancial news
Primary signal
$ONON
Neutral
medium confidence
Mentioned
$ONON · $GO · $BIRK
Relevance
4/10
AlphAI data visualization · based on yahoo.com
Decision brief

The 30-second read

$ONONNeutralLow
01

Why it matters

No new earnings or guidance is disclosed; the piece is a thematic recap.

02

Market read

Limited trading relevance; serves as a reminder of potential value opportunities rather than a catalyst.

03

What to watch

Potential supply‑chain improvements and upcoming seasonal demand could benefit all three.

Relevance 4/10Novelty 2/10Timing: current

Background

The article lists three beaten‑down stocks amid a record‑high S&P 500, arguing they remain undervalued despite solid fundamentals.

Company-level read

Ticker impact

$ONONNeutralMedium confidence
Context

On Holding reported Q2 earnings with strong DTC growth but shares are down 35% YTD, presenting a potential buy‑the‑dip opportunity.

Expected impact

Small upside over the next weeks if earnings guidance holds.

Evidence & confidence

Earnings data is already public; the article only reiterates existing facts without new material.

$GONeutralMedium confidence
Context

Grocery Outlet disclosed operational turn‑around steps, including closing 36 stores and raising the low end of full‑year guidance, while the stock remains down 40% YTD.

Expected impact

Modest upside if guidance upgrades materialize.

Evidence & confidence

Guidance lift is a minor update; no new quantitative guidance beyond prior reports.

$BIRKNeutralMedium confidence
Context

Birkenstock posted a 16% YTD decline despite strong brand demand; analysts maintain Buy ratings as cost pressures ease.

Expected impact

Possible modest rebound if cost headwinds ease.

Evidence & confidence

Article repeats known earnings trends without fresh data.

Market effects

Highlights valuation gaps in consumer discretionary and apparel sectors.

Primarily U.S. retail investors; limited broader market effect.

Low; focuses on three individual companies.

Counterpoint

The stocks may be oversold and could outperform if macro pressures ease.

Key entities

  • On Holding AG

    Athletic apparel maker

  • Grocery Outlet Holding Corp.

    Discount grocery retailer

  • Birkenstock Group AG

    Footwear manufacturer

Related articles

$GOHigh

Grocery Outlet (GO) Raises Guidance While Nursing A Widening Loss

Grocery Outlet (GO) reported Q2 2026 net sales up 1.1% to $1.19B, but a net loss of $174.7M due to a $158M goodwill charge. The company raised full-year guidance for comparable-store sales, adjusted EPS, and adjusted EBITDA. Management completed its store optimization plan ahead of schedule, reducing restructuring costs and capital spending.

$BIRKHighAI 8/10

Birkenstock Proves Premium Still Sells, Even as the Rest of Retail Struggles

Birkenstock Holding plc (NYSE:BIRK) reported Q3 revenue of €720M, up 13%, exceeding expectations. Adjusted EPS was €0.74, slightly below consensus. The company raised full-year guidance, targeting 15% revenue growth and €710M in adjusted EBITDA. Shares rose up to 20% on August 13. Strength was driven by full-price demand from affluent buyers, with all regions showing growth. The company also executed a €230M share buyback program. Management noted currency and tariff pressures on margins.

$BIRKMed

BMO Capital initiates Birkenstock stock coverage at Market Perform

BMO Capital initiated coverage on Birkenstock (NYSE:BIRK) with a Market Perform rating and a $35.00 price target. The stock has fallen 16.9% year-to-date, trading near its 52-week low. BMO acknowledges Birkenstock's strong brand and supply chain but expresses caution due to maturing growth in key markets. Analysts have revised earnings downward, though revenue grew 11.8% over the last year. Recent developments include a secondary share offering and price target increases from other analysts.