Why 3M Stock Was Sliding Today
Shares of 3M (NYSE: MMM) were heading lower today after the company warned of "a slow growth environment" in 2024 and weakness in its consumer and electronics segments through the rest of 2023. Management made the comments at Morgan Stanley's11th Annual Laguna Conference this morning.
As of 2:47 p.m. ET, the stock was down 5.9% on the news.
The comments from CFO Monish Patolawala seemed to rekindle fears that the core 3M business is still struggling even as the company reported good news on a number of fronts recently.
Source Fool.com
