Another article questioning the so-called leadership
15 replies (most recent on top)
some folks are saying 95 by the end of march,,yikes
It's getting really close to going below 100.
Circling the bowl and going lower. When us a major share holder going to take action against the BOD?
Seems like it will keep going lower. Trading below $108 where there was resistence.
I sold all my shares at $230 when the P/E ratio was about 26 and the stock seemed way overvalued given the low sales and earnings growth. When I started at 3M, one of my mentors told me to sell 3M whenever the P/E got above 22. "Be patient, and you'll eventually get a chance to buy it back at a cheaper price", he told me. I lost track of that guy, but I owe him dinner and a huge thank you for all of his advice.
After I sold, I watched as the price continued upward through $240, $250, and then $259. While I was disappointed that I left so much profit on the table, I decided I'd just have to wait for the next recession / market crash to see if I could buy it back under $125 with a P/E under 13.
We're well below that price point now, but I have no intention of investing another dime of my money into this once great company. Even if the Combat Arms litigation was thrown out of court tomorrow, PFAS and other liabilities will remain for years to come. The incompetent leadership team and failed strategy remain. Ideas for improvement and opinions are no longer valued if they don't align with leadership's ideas. The damage to reputation and employee morale will be extremely difficult to undo. Mr. McKnight is rolling over in his grave. Time to stick a fork in 3M - it's done!
I am glad that I sold off majority of position at $235/share. Didn't catch the peak but surely doesn't matter now
So glad I left this train wreck two years ago!
Here’s what was published on Seeking Alpha: 3M (NYSE:MMM) shares closed at a nearly 10-year low Friday, ending -1.3% to cap a nearly 5% drop since February 21, when Home Depot reported disappointing Q4 earnings and said it sees the home improvement market declining if consumer demand continues to shift toward services from goods.
That would be bad news for 3M (MMM), whose home improvement related revenues totaled $538M in Q4, or 43% of its $1.25B consumer segment.
3M's (MMM) closing price of $107.80 was its lowest since May 2, 2013, and the stock has dropped 24.5% during the past six months.
Earlier this month, reports said a major 3M (MMM) shareholder expressed doubts about CEO Mike Roman and suggested the company may need a new leader.
In January, the company reported Q4 adjusted earnings that came in short of Wall Street consensus and said it expected sales to decline this year.
3M (MMM) shares have lost 12% so far this year and 25% during the past 12 months.
Walk these clowns in leadership OUT THE DOOR…. What the heck is delay?
3M employees reputation looks to be going downhill pretty fast.
seekingalpha.com/news/3940868-3m-stock-posts-lowest-close-in-nearly-10-years-down-nearly-5-this-week
It's by Seeking Alpha with the keywords in the title. But not sure able to link due to member access
According the ismc call we are winning like the georgia bulldogs.
Target 85
Is there a link ?