Do Traders Think 3M Co (MMM) Can Turn Around Wednesday?

Overall market sentiment has been down on 3M Co (MMM) stock lately. MMM receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

3M Co has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on MMM!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With MMM Stock Today?

3M Co (MMM) stock is trading at $174.04 as of 12:50 PM on Wednesday, Dec 1, an increase of $4.00, or 2.35% from the previous closing price of $170.04. The stock has traded between $171.08 and $174.65 so far today. Volume today is less active than usual. So far 1,130,521 shares have traded compared to average volume of 2,278,394 shares.

More About 3M Co

3M is a multinational conglomerate that has operated since 1902 when it was known as Minnesota Mining and Manufacturing. The company is well-known for its research and development laboratory, and the firm leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of the firm's net sales. Many of the company's 60,000-plus products touch and concern a variety of consumers and end markets. Click Here to get the full Stock Report for 3M Co stock.