3M stock is down 15% on Monday: what happened?

Solventum – a healthcare unit that 3M Co (NYSE: MMM) spun off in March will begin trading on the New York Stock Exchange today. Ahead of it, $MMM is down 15% in premarket.What does it mean for 3M shareholders? Copy link to section Those invested in 3M are slated to secure a position in Solventum as well on Monday. For every four shares of$ MMM, they’ll get one share of Solventum. But experts seem a bit dovish on the spinoff. Brett Linzey of Mizuho, for example, reiterated his “neutral” rating on 3M stock la ...