Shares of 3M MMM are trading higher after the U.S. government ordered production of 180 million masks.
With the coronavirus expected to reach its peak within the next two weeks, the demand for N95 masks has increased drastically, so much so that manufacturers can’t keep up with demand and other companies have converted to making the protective gear.
President Trump has been openly critical of companies such as General Motors GM and 3M MMM.
We hit 3M hard today after seeing what they were doing with their Masks. "P Act" all the way. Big surprise to many in government as to what they were doing - will have a big price to pay!
— Donald J. Trump (@realDonaldTrump) April 3, 2020
On April 4, Trump announced that FEMA and HHS ordered 180 million masks and that they are working with 3M to help satisfy that order. The cooperation of Trump and 3M could signify the end of the feud between the two, although it was not stated that 3M actually fulfilled the order.
President Trump: "FEMA and HHS have ordered 180 million -- think of that 180 million who ever heard of 180 million N95 -- masks." pic.twitter.com/OlxMLHJCYI
— The Hill (@thehill) April 4, 2020
The cooperation of Trump and 3M could signify the end of the feud between the two, although it was not stated that 3M actually fulfilled the order.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.