Why 3M Stock Plunged in January
3M (NYSE: MMM) has been a mess for years now, with the stock losing half of its value over the past five years and trailing the S&P 500 by about 130 percentage points. Investors came into 2024 hoping that after years of restructuring, 3M was ready to move on from its troubled past.
Fourth-quarter results doused some of that optimism and caused 3M to shed most of the gains it had made in the final months of 2023. Shares of the diversified manufacturer fell 13.7% in January, according to data provided by S&P Global Market Intelligence.
3M is one of the most storied names in American innovation, the company famous for inventions including Post-its and Scotch Tape as well as a large number of industrial products used in healthcare, manufacturing, and other areas.
Source Fool.com
