On Holding Ltd. (ONON) shares experienced a sharp, unexplained sell-off in after-hours trading on February 6, plummeting 7.96% despite closing the regular session higher.
- The stock traded down to $40.01 after the bell, with no immediate company-specific news or SEC filing available to explain the severe reversal.
- This sudden drop runs contrary to recent analyst optimism, as Bernstein had just reiterated an 'Outperform' rating on February 3.
- Bernstein had set a price target of $70, noting that the stock was 'undervalued.'