3M, the United States-based company, has made its mark in the world of surgical goods in the wake of the worldwide pandemic. But that’s just the tip of the iceberg. It is understandable that investors look forward to investing in this giant company. Still, it’s not only because of its goods that are selling in large numbers worldwide but also the way this company has sustained since its beginning in the 1900s. This company has rags to riches story unlike any other. From finding a low-grade mineral in its initial days to never giving up and thriving in several sectors, including surgical goods, stationary like scotch tape, entertainment, 3M is undoubtedly a pioneer of diversifying businesses under a single parental organization.
With the company going public in 1946, the amount of investment escalated by thousands. This helped the company invest more in research and development of new products and come up with innovative strategies for its international divisions. This is one of the best ways that a company can use public investment to progress in the diversification of business, and 3M stands out as a standard for the same globally. This is one of the very first companies in the 1900s that branched out at a faster speed with its shares going public and stepping into diverse sectors like that of entertainment, surgery, safety, and engineering.
Current position in the market
The company is known for its investments in multiple areas, with its surgical equipment ventures gaining new recognition amidst the pandemic that has engulfed the entire world. The company had sent its products as defense materials in world war II, and this time in 2020, it is widely famous for its quality PPE kits, n95 respirators, n95 masks, and more. This has brought it to the limelight again, although it made its way to the Fortune 500 list a long time back due to its diversified business strategies and ventures.
Trends in January
The company reported having a downfall in stock prices by 2.5% in January 2020. But like all other economic downfalls, it has still survived such instances in 2020. At the beginning of this year, the stocks opened in January at an average of 21,000-22,000 every day, and the fluctuation was quite similar to the ones observed in December 2019. Prices hit the highest mark of 22,600 in January several times. As noted on 31st Jan, the total turnover (in Lac share) was 631.
Trends in February
Growth was observed in the month of February in 2020, with the opening price at 22,990 on the 1st of February, which saw the highest mark of 23,339 that same day. The highest price was observed at 25,200 that same month. 29th February saw the total turnover (in Lac share) at 93.5.
Trends in March
A downward trend was observed in the month of March, with the highest price on the 2nd of March being 20,995 and the openings fluctuated between 22,000 and 16,000. This downward trend extended till the end of March when the opening prices were at a low of 17,800 on the 31st of March with the total turnover (in Lac share) being at 123 the very same day.
Trends in April
A slight rise in stock prices was noticed the following month in April when the opening price was noted at 19,080 on the 1st of April, 2020. The fluctuation in opening prices stayed between the range of 18,000-19,000 approximately. The slight rise in trend stayed positive till the 30th of April when the highest price noted was 19,957 that day and the total turnover (in Lac share) that very same day was 107.
Trends in May
A slight dip in prices from that in April was noticed in May with the fluctuation standing between 17,000-19,000 approximately. The highest price noted this month was 19,240 towards the initial days of the month. The last day of the month observed the same dip as noted earlier in the month, and the opening price that day stood at 18,100 with the total turnover (in Lac share) for the United States-based company was noted at 160.
Trends in June
Similar fluctuations were observed the following month in June 2020.3M’s international divisions also observed such dips in the same month, which fluctuated between 17,000-18,000. This was a similar trend in comparison to the previous month, although the upward curve noticed earlier wasn’t present in this case.
Trends in July
July 2020 saw an upward curve for this surgical equipment based sector of 3M, which indicated a rise in stock prices. The opening fluctuated between 18,000-21,000 approximately, which indicates the growth in prices. The closing day for the month noticed a hike in price at 21,301 with the total turnover (in Lac share) for the day at 43.1.
Trends in August
Since July, an upward curve was noticed in stock prices for the company, which then followed suit in August. The fluctuation in opening prices stayed within the range of 20,000-22,000, which was higher in the past few months. This rise was a positive indicator for investors who showed up in the stocks traded.
Trends in September
September witnessed a slight dip in the prices ranging between 18,000-20,000. This dip is expected to be carried forward, but even then, the company seems to be faring well among all its competitors in the market. As witnessed in various other companies the dip in stock prices have started to gain an upward trend since the month of July.