MMM Chart, page-32

Not sure. I guess market has priced in no growth and higher cost inflation = negative profit. Company has guided to this last report. I think market has over looked increased marketing investment and results which may start to be seen this Qtr.
I think you will start to see increased sales in allied verticals such as dog food and benefits of controlling delivery service in europe also.
So maybe a mixed qtr again as lockdowns ease globally but probably better than last qtr. Time will tell. But they are german company and should run like a Mercedes Benz.

Buyers have dried up again, so await the next rally. If it rallies pre results, expect them to be positive.

DYOR