What Happened?

Shares of industrial conglomerate 3M (NYSE: MMM) jumped 3.7% in the afternoon session after the US president announced a framework for a future deal with Greenland. 

Wall Street saw a broad-based rally, with the S&P 500 gaining 1.2% as investor concerns over global trade tensions eased. The positive sentiment followed an announcement that reversed course on plans to impose tariffs linked to Greenland, which had caused steep market losses earlier in the week. This recovery reflected renewed optimism in the market, as the threat of a widening trade conflict appeared to subside, encouraging investors to move back into equities.

After the initial pop the shares cooled down to $161.22, up 3.5% from previous close.

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What Is The Market Telling Us

3M’s shares are not very volatile and have only had 7 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 9 months ago when the stock gained 8.3% on the news that the company reported impressive first quarter 2025 results which blew past analysts' revenue and EPS expectations. Sales rose slightly from last year, with solid gains in the US and China, though parts of Europe and the electronics market pulled overall growth down. Margins improved, too and this helped drive a significant growth in earnings. For the rest of the year, the company expected earnings to grow significantly, even though new tariffs were likely to take a small bite out of profits. Overall, this quarter had some key positives.

3M is flat since the beginning of the year, and at $161.22 per share, it is trading close to its 52-week high of $173.09 from December 2025. Investors who bought $1,000 worth of 3M’s shares 5 years ago would now be looking at an investment worth $953.72.

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