I hope you have stopped all GESPP contributions and ride out the 1 year holding period to sell everything on hand. This counter is going downhill after the divorce. Good luck
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I wonder how many long time employees still have 3M stock in their 401k. (Back in the day, our employer matching contributions were made in 3M stock rather than cash.) The constant layoffs and underwater GESPP shares are bad enough, but those poor people are feeling an extra level of pain.
Stopped a few years ago, and boy am I glad that I did. Nothing but a sinking ship.
I stopped buying shares last July (2022) and at the same time my financial advisor sold what we could (most of it. A handful required a waiting period.) I took a hit, but for the next 18 years I get to claim losses and my portfolio is no longer hemorrhaging. My financial advisor said I was weighed WAY too heavily in 3M. And PS: I was let go from 3M in the we’re-not-going-to-tell-the-press headcount reduction from last Fall. I know I made the right decision with the stock. Two takeaways here: stop buying 3M stock and talk with your financial advisor.
What kind of nitwits are still investing in 3M GESPPs.
Are you people financially illiterate ?
If you believe 3M won’t go bankrupt, then buying now is the “buy low” part of “buy low sell high”. I’m not buying, tho. 🙃
After spin MMM becomes a $60 a share company. If you believe current valuation is fair, and by most metrics it is then there is more pain ahead. The spin accounts for around 1/3 or revenue, so losing that will certainly cause 3M to look even worse. Obviously, you’ll most likely be granted shares of the new spin to make you “whole”, but after that the sole focus will be on lawsuits. And boy will this lawsuits deteriorate the stock. I agree. Stop contributing for the foreseeable future.