Could This Multibillion-Dollar Settlement Be the Spark 3M Stock Needs to Shoot Higher?
3M (NYSE: MMM) shares have lost about half their value in the last two years as the company has grappled with a series of issues while struggling to find a catalyst to send the stock higher.
The industrial conglomerate is reportedly nearing a settlement to resolve massive potential environmental liabilities. The settlement in and of itself is not going to solve all that ails 3M. But for investors, it might be an ample reason to give this one-time outperformer a fresh look.
3M is among the world's largest manufacturers of per-and polyfluoroalkyl chemicals, or PFAS, which, among other things, have been used to make fire suppression foams. PFAS is today regarded by some as "forever chemicals" that stay in the environment well after their intended use and have some association with cancer and other long-term illnesses.
Source Fool.com
