#3M November 3

We may earn money or products from the companies mentioned in this post.

Throughout November 2024, several of us are taking part in the 30-Day Dow Jones Coach4aday Challenge. Each day, we explore the history or learn about a company within the DJIA—a key economic and stock market indicator. Today’s post is on 3M.

3M has been part of the Dow Jones Industrial Average (DJIA) since August 9, 1976. This inclusion reflects 3M’s long-standing influence and significant role in the U.S. economy as a diversified manufacturing and technology company.

The company is known for best-selling products like Post-it Notes and Scotch Tape, staples in both office and household settings. Additionally, its N95 respirators and adhesive products are widely used in healthcare and industrial sectors worldwide.

Dow Jones 30-Day Challenge Guidelines

Like previous challenges there are no hard and fast rules to participate. There are a few suggested guidelines

1. Each day in November 2024 write about the history or a company that makes up the Dow Jones.
2. Share at least one fact about that company.
3. If so inclined use the hash tag #Coach4adayChallenge on social media platforms

November 3rd-3M

Here are three key facts about the history of 3M:

1. Founding in 1902: 3M began in Two Harbors, Minnesota, as a small mining venture named Minnesota Mining and Manufacturing Company. The goal was to mine corundum, a mineral used in sandpaper and grinding wheels, but they discovered the site actually contained a lower-quality mineral. Despite this setback, they pivoted their focus to abrasive materials and other products, which laid the foundation for their success.
2. Innovation with Scotch Tape in 1930: In the early 1930s, 3M developed one of its most famous products, Scotch Tape. This invention was a game-changer, as it provided a clear, adhesive tape that could seal cellophane food packaging. Its popularity helped solidify 3M’s reputation as an innovative company.
3. Post-it Notes Launch in 1980: Post-it Notes, one of 3M’s most iconic products, were invented by accident. Dr. Spencer Silver, a 3M scientist, developed a low-tack adhesive, but the company didn’t initially know how to use it. In 1974, 3M scientist Art Fry found that the adhesive was perfect for creating removable notes. The product was officially launched in 1980 and became a global hit, revolutionizing office supplies.

When the DJIA added 3M in 1976 its stock price was $1.34 on November 1, 2024 it was trading at $128.47.