Market Whales and Their Recent Bets on MMM Options
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish stance on 3M (NYSE:MMM) through options trading, with 64% of trades being bearish. The trading volume and open interest suggest a price target range of $50.0 to $115.0 for MMM. The stock is currently up by 1.18%, with a price of $99.88, but may be overbought according to RSI values. Analysts have issued mixed ratings, with a consensus target price of $97.5.
March 13, 2024 | 7:45 pm
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3M has seen a bearish sentiment from financial giants in options trading, with a price target range of $50.0 to $115.0. The stock is currently up but may be overbought. Analyst ratings are mixed with a consensus target price of $97.5.
The bearish sentiment in options trading, combined with the current stock performance and analyst ratings, suggests a cautious outlook for MMM. The mixed analyst ratings and the potential overbought condition could lead to short-term volatility. However, the significant interest from financial giants in options trading indicates that MMM remains a key stock to watch, balancing the short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100