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Shares of Post-It notes maker 3M (MMM) surged by as much as 18% to $122.68 on Friday, marking their most significant intra-day gain since 1987, according to <a href="https://www.bloomberg.com/news/articles/2024-07-26/3m-raises-profit-forecast-as-new-ceo-brown-takes-helm">Bloomberg</a>, and lifted retail sentiment to the highest in a year.&nbsp;Stocktwits sentiment for MMM reached an extremely bullish level (95/100) on Friday morning amid exceptionally high message volumes (97/100) — with both metrics hitting their highest in 12 months — pushing the stock to fourth among the top 10 trending symbols on the platform.<figure class="image"><a href="https://stocktwits.com/symbol/MMM"><img style="aspect-ratio:1320/312;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/MMM_sentiment_and_message_volume_score_on_Jul_26_c81096dd8d.png" alt="MMM sentiment and message volume score on Jul 26.png" width="1320" height="312"></a><figcaption>MMM sentiment and message volume score on Jul 26</figcaption></figure>“The breakout we have been waiting for. This could be at $140 in the blink of an eye. One of the best performing under the radar industrials. New CEO gonna turn this thing around,” read a bullish <a href="https://stocktwits.com/lion3539/message/580796011">post</a> from Stocktwits user Jack Pezzeli.<figure class="image"><a href="https://stocktwits.com/lion3539/message/580796011"><img style="aspect-ratio:1320/398;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Stocktwits_user_Jack_Pezzeli_s_post_on_MMM_stream_Jul_26_1a2ee2d642.png" alt="Stocktwits user Jack Pezzeli's post on MMM stream Jul 26.png" width="1320" height="398"></a><figcaption>Stocktwits user Jack Pezzeli's post on MMM stream Jul 26</figcaption></figure>The industrial conglomerate's impressive performance was driven by a combination of better-than-expected second-quarter earnings and a renewed investor confidence in the company's strategic direction under the leadership of new CEO Bill Brown.3M reported earnings per share of $1.93, surpassing analyst estimates of $1.68. The company also raised its full-year profit forecast, signaling management confidence that the momentum can continue.&nbsp;These positive results come on the heels of a tumultuous period for the company, marked by significant restructuring, including the spin-off of its healthcare division, workforce reductions, and facility closures.Brown's strategic pivot towards higher-growth areas, such as automotive electrification and climate technology, has resonated well with investors. The company's decision to exit less profitable consumer product lines has also been met with approval.Wall Street analysts have already echoed the positive sentiment. Barclays recently increased its price target for 3M, while Wolfe Research last month upgraded the stock to "Outperform" and set a year-end 2024 price target of $125, impressed by Brown's track record at defense contractor L3Harris (LHX).3M said in a video to employees in May that innovation-driven organic growth and operating efficiency would be Brown’s two top priorities.As the company embarks on a new chapter under Brown's leadership, its ability to sustain its momentum and capitalize on emerging opportunities will be closely watched by investors. The stock is up over 37% year-to-date.Photo courtesy: 3M

Retail Investors Hail 3M’s Earnings Amid Historic Stock Surge: ‘New CEO Gonna Turn This Thing Around’

Shares of Post-It notes maker 3M (MMM) surged by as much as 18% to $122.68 on Friday, marking their most significant intra-day gain since 1987, according to Bloomberg, and lifted retail sentiment to the highest in a year.

3M stock surges as retail investors praise earnings

Equity

The industrial giant's Q2 earnings and optimistic outlook, coupled with enthusiasm for CEO Bill Brown's leadership, is making retail investors swoon over the stock.


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SSgA Active Trust - Industrial Select Sector SPDR

Industrial Select Sector SPDR

Volume	10.62M
52-Wk High	$128.31
52-Wk Low	$96.12

XLI Industrial Select Sector SPDR

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