A board member at 3M just bought 6,625 stocks of 3M for $750,000. Since we all know that there are many reasons to sell a stock but only one reason to buy it. Management might think that the 3M stock is undervalued.
The stockmarket has already reacted and 3M (NYSE:MMM) stock is up to $114.99 which is +0.59 (0.52%) so far today.
I see a potential upside on the news.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.