3M. About company

3M is an American chemical company that makes goods of first necessity. In addition, the company also produces various equipment to diagnose health problems and is responsible for the safety of employees.

The company was gaining popularity gradually. However, it was at the peak of its popularity just after it listed its shares on the New York Stock Exchange in 1947. Today, 3M is among the 100 largest companies in the US in terms of sales.

During its 100-year history (the firm was founded in 1902), the company produced a vast amount of goods. Now, its production is focused on the following:

• Films for screen brightness, image transmission systems, road marking tapes, etc.;
• Scotch tape, paper stationery (notebooks);
• Household cleaning products (sponges, napkins, dust rollers);
• Products that improve the work of TV and electronics;
• Anticorrosive coating;
• Protective goods (respirators, etc.) and other products.

In December 2021, the company’s price totaled $177 billion.

Shares of 3M and factors that affect them

By the moment, the highest price of the company’s share was recorded in 2018 and totaled $251. Then, the shares were gradually losing value and by March 2020, they cost $136 amid the pandemic. However, later, the share price started to rise. By spring 2021, they were trading at $203. However, by early December 2021, the price dropped once again to $175.

When trading 3M’s shares, pay attention to the following factors:

• Trade relations between the US and China;
• Epidemiological situation (supply disruptions);
• Company’s reports;
• News about the Fed (a key interest rate cut is good for the company);
• Market sentiment.

Note that all these factors may have either a negative or positive influence on the share price of 3M. Competent data analysis is a good assistant for a trader.