With stocks in free fall I’m considering taking my GESPP contribution and applying to my general investment portfolios outside of 3M. I’ve been here for two years and the performance has trended downward the entire time. My other accounts have at least has had minor gains .. yes I know value of DCA esp in downturns I’m just not confident that continuing to invest in a sinking skip will yield anything long term as I’m not confident in there ever being an upturn. Not sure the purpose of this post I guess just to see if anyone was experiencing the same thought process.
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I sold all mine at $178, so glad I did!
In addition to city, state, and country governments suing 3M for PFAS cleanup, what are the potential costs of medical monitoring if the bill below and similar bills in states like Vermont become law?
A bill has been introduced in the Minnesota Legislature that would allow Minnesotans exposed to toxic substances to sue the responsible companies for the cost of monitoring their health.
Rep. Jeff Brand, DFL-St. Peter, and Sen. Tou Xiong, DFL-Maplewood, introduced the legislation (HF2794/SF2727), which would apply to people who aren’t sick and allows their legal fees to be reimbursed. People who are sick have other legal remedies.
The bill is aimed at the likes of 3M, which has avoided major litigation from Minnesotans despite contaminating water supplies in the East Metro with a class of chemicals known as PFAS, which are used widely in industrial and consumer products.
The state of Minnesota settled a lawsuit with 3M in 2018 for $850 million, with the money going to provide clean water to affected East Metro communities. But Minnesotans who believe they’ve been sickened by 3M chemicals have been stymied by a lack of medical monitoring, which could detect whether the contamination is affecting their health.
The only upside with GESPP is getting access to spinco stock. I'm not giving advice, but this is what I am doing: Not buying any more until there is clarity on the next step with the two litigations, and holding what I have until I am issued spinco stock.
Don't pump in anymore of your hard earned money, use it elsewhere for returns instead of losses.
Put that money into VT instead.
keep your shares till november, you will grab a nice slice of parentco/spinco money
ESPP used to be a great deal and was a total compensation differentiator for 3Mer’s in the past. The last several years have been a train wreck. 15% discount and a healthy dividend yield would guarantee it to be an income stream if we could just tread water, but even that has become a challenge. I would look for other external investment opps until 3M proves that the bottom is in.
Never buy a single stock. Roll into a mutual fund or ETF.
This has been discussed in details earlier.
Sell now ! Share price will most likely never recover.