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DewDiligence

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DewDiligence

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Re: DewDiligence post# 523

Wednesday, 06/01/2022 5:43:37 PM

Wednesday, June 01, 2022 5:43:37 PM

Post# of 734
3M expects $300M revenue_hit_in_2Q22_from China’s COVID lockdowns:

https://finance.yahoo.com/news/3m-expects-300-million-revenue-152459655.html

3M is unusual among multinational firms in that almost all of what 3M sells in China it manufactures in China. The COVID lockdowns forced the temporary closure of some of 3M’s manufacturing sites in China.

This was stated on today’s Bernstein webcast.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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