Stock drop to 90s
Layoffs
Fatal incident
Low morale every where
MV scandal
Lawsuit
5 replies (most recent on top)
Couple of observation here after working in the HQ for a few years and with previous experience in a few other companies:
- Many people have blind faith in 3M stock and continued to invest in it even though it was clear that there is no easy way (or rather no way) to recovery. Not only they continued to invest but they are still holding it in the hope that someday it will recover, while their collective GESPP account shows a huge dark red net loss number.
- Even in late 2022 some people, esp. in mid management were of the opinion that intrinsic value of 3M shares were north of $180. Not sure how they came to that conclusion, but getting brainwashed while being part of a cult is rather common, from what I understand.
What kind of financial nitwit still invests in 3M stock these days ?
Have you all forgotten who sits at the head of the board! MR.
Meant to say haven't sold off your GESPP. You'll rue the day you held it when the shares were still as high as 98.
Varys,
Wholeheartedly agree the Board is not as (perhaps) d-mbfounded as it appears. Maybe they have agreed that the enterprise is permanently broken and piecemealing it is the only way to proceed. That would make sense why 40 to 50 percent of the MTE and LVS are being cut. They believe only a low cost low frills spin or sale of a business will attract investors.
The Dow CEO is on the board and saw 1st hand how dupont broke up into pieces after Dow and Dupont merger demerged.
Short answer: Nothing.
Longer answer:
I think the BOD has decided 3M as a whole is beyond saving and are trying to get the most value from the pieces. I just can't come up with another explanation that really fits the actions of COC.