Looking At 3M's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on 3M (NYSE:MMM), with 61% of detected unusual options trades being bearish. Whales have been targeting a price range of $90 to $105 for 3M over the last 3 months. RBC Capital downgraded its action to Underperform with a price target of $95, while UBS maintained a Neutral rating with a price target of $95.

June 05, 2023 | 3:31 pm
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NEGATIVE IMPACT
A whale has taken a bearish stance on 3M, with 61% of detected unusual options trades being bearish. RBC Capital downgraded its action to Underperform with a price target of $95, while UBS maintained a Neutral rating with a price target of $95.
The bearish stance taken by a whale, along with the downgraded action by RBC Capital and the maintained Neutral rating by UBS, indicates a negative short-term impact on 3M's stock price. The targeted price range of $90 to $105 by whales also suggests potential downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100