By CCN: 3M stock (MMM) plunged by 11 percent on Thursday after the $112 billion company unveiled disastrous first-quarter earnings, drastically slashed its full-year guidance, and announced that it would hand out pink slips to 2,000 employees as part of a radical restructuring plan. But while analysts will justifiably blame 3M for hamstringing the Dow Jones Industrial Average as it seeks to record its first all-time high since October 2018, the Post-it maker also dealt a significant blow to the institutions who own 69 percent of outstanding MMM shares. Vanguard Owns $9.5 Billion Worth of 3M Stock The largest institutional
The post 3M Stock’s Collapse Deals Vanguard a $10 Billion Catastrophe appeared first on CCN
source https://www.ccn.com/3m-stocks-collapse-deals-vanguard-a-10-billion-catastrophe
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