$3M (MMM.US)$ why is 3m option chain weird? they dun support...
$3M(MMM.US$ why is 3m option chain weird? they dun support options?
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SpyderCall : that is a good question. All of the contracts changed over the weekend, I think. The price of 3M shares last Friday was well over 100 dollars. Then, on Monday at 2 a.m., when premarket opened, the price action 6 a gap down from news about their court case. But the numbers were showing a percentage gain of over 1%, even though the price gapped down over the weekend. I didn't think too much about it at the moment.
Now, while I am looking at 3M's chart at the end of the day, it is showing a gap up over the weekend and the price is well below 100 dollars, even though the price was well above 100 at the end of last week.
Does anybody know what is going on here? Please enlighten me.
102335792 SpyderCall: 3M spun off Solventum. Shareholder getting 1 Solventum share per 4 3M share. Price of 3M share adjusted to account for the spinoff I think.
SpyderCall 102335792: I just saw that news. Maybe I am forgetting, but I don't ever remember price adjustment like this after any spin-off that I have seen in the past.
I mean, I have seen investors adjust the price accordingly during the open market. But not a strange adjustment like this. 3M's entire graph translated downward on the chart. Like all of the candles shifted downward.
Maybe I just wasn't paying close enough attention in the past because I don't remember seeing something like this happen before.
102335792 SpyderCall: I have no idea too. Quite confused as well. But I realised the graph shifted down roughly around 17 dollars. That corresponds to the stock price of Solventum divided by 4.
SpyderCall 102335792: Very interesting.
104094436 SpyderCall: In previous spinoffs, assuming we met the dateline where shares are alloted to existing shareholders, does Moomoo "credit" those shares of the newly spunoff entity into our account?
SpyderCall 104094436: I believe so. I'm sure they are required to do so.
104094436 SpyderCall: Appreciate the response mate. Thank you
SpyderCall 104094436: No problem, dude
Learning UncleOP : haha I still dun get it.