5 Reasons 3M Stock Fell 10.5% in February and Is Still Sinking
The stock of 3M (NYSE: MMM) tumbled 10.5% in the month of February, according to data provided by S&P Global Market Intelligence. With shares of the industrial conglomerate losing another 3% so far in March, 3M stock is now barely 4% away from its 52-week lows as of noon Tuesday.
The company is getting hit from all sides, but here are the five biggest reasons the stock is under so much pressure.
First, 3M stock started to feel the heat from the end of January when it released its fourth-quarter and full-year 2021 numbers. Although the figures beat consensus estimates, expectations were already running low from the company: Earnings dropped 4% year over year in the fourth quarter on flat revenue worth $8.6 billion as the company braved several headwinds, including rising input costs and supply bottlenecks.
Source Fool.com
