What is going on at 3m and advice pleaseDear Travis and Fellow Members
My Husband passed away last year and I have been sheparding our stocks, much as I had been doing when he was alive. When he wanted to sell all of our stocks I would make him keep 3M because I liked it. Yesterday threw me for a loop… any advice on a plan, as it says in the old song “should I stay or should I go?”
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Following is Market Watch’s brief but concise description of 3M’s most recent Earnings Report:
” Shares of 3M Co. suffered their biggest one-day decline in over 30 years, after the industrial, health-care and consumer products company missed profit and revenue expectations, slashed its full-year outlook, and said it was cutting 2,000 jobs.”
Skimming through stats, 4 out of 5 segments of this conglomerate performed poorly (negative) in the last quarter. Even its management admitted that they did not react fast enough to slipping sales, especially in Asia. Add to this already dismal picture some kind of litigation regarding environmental matters.
As the company just reported on April 25th, it’s too early for any write-ups on plans for a turnaround, or where analysts see a silver lining, etc. However, looking at the price chart, the stock did not undergo further sell-off as one would expect after a disastrous Earnings Report. In fact, there was a slight uptick in price the next day.
So the decision on whether to hold or sell depends so much on position size, number of years held, your threshhold for patience in waiting for the stock to go back up, your personal attachment to the stock and so on.
Thank you for the information and taking the time to help. I’m going to sit back for a few days and make a decision soon.
You’re welcome. Thought I’d look into it because 3M, after all, is a member of the DOW and the latter went down as a group when 3M’s stock fell.
The following Barron’s article might help your decision-making:
https://www.marketwatch.com/articles/3m-stock-still-has-further-to-fall-analyst-says-51556549135?mod=mw_quote_news
Thank for the valuable information.