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Why 3M's Stock Is Trading Higher Today

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Why 3M's Stock Is Trading Higher Today

Shares of 3M (NYSE: 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 (NYSE: GM) and 3M (NYSE: MMM).

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.

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.

 

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