09-13-2019, 04:29 PM
MMM offers a great example of how quickly a high-flyer can turn around once those first cracks in the armor and less-than-stellar earnings estimates start rolling in. The stock was a darling of wall street during 2017, and the positive articles flowed freely on Seeking Alpha. Stock price was also running way ahead of its historical average P/E. The reversion to mean has been brutal for people who bought in near the top. Those people probably have a very different opinion of their shareholding than the folks who recently bought in the $160s (or even a brief dip under $160):
![[Image: g6iS64q.png]](https://i.imgur.com/g6iS64q.png)