For nearly 50 years, the successes and failures of 3M have been part of an exclusive report card for the entire American economy.
3M headquarters in Maplewood, Minnesota. 3M is the worst performer on the key stock index since 2018 and is about to spin off health care, a quarter of its revenue.As one of just 30 members of the Dow Jones industrial average stock index, the conglomerate’s swings have influenced investors, bankers, regulators and lawmakers on a daily basis.
Since 3M was added to the index in 1976, the Dow’s makeup has changed 22 times, including in 2012 when UnitedHealth Group, Minnesota’s largest company, was added. “Realistically, though, it’s usually based on market cap — and changes are made in batches,” said Julian Vogel, finance professor at San Jose State University. “3M is not alone in being in trouble. At the beginning of the year it was Walgreens and Verizon with the greatest potential to fall off the index.”
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