WASHINGTON, DC / ACCESSWIRE / October 17, 2022 / Today, The American Conservative Values ETF (NYSE:ACVF) announced it has divested its holdings of and initiated "Refuse to Buy" ratings for PayPal Holdings, Inc. (PYPL) and Visa Inc. (V). They were liquidated as part of its periodic portfolio reconstitution and rebalancing. Both companies have been historically perceived as being hostile to conservative values. Their recent actions have caused considerable concern and outrage among politically conservative investors. The announcement also stated that AT&T has been reevaluated and brought back into the portfolio.
"Giving conservative investors the power to respond to such concerns is an example of why we built ACVF," said ACVF President and co-founder Tom Carter adding "the management team continually seeks to better understand politically conservative investors' sentiments and opinions as corporate reputations are impacted by news events and market performance."
PAYPAL is the latest chapter in Big Tech's war on free speech. Liberal Big Tech companies have displayed a shocking tendency to assume the role of "thought police", becoming the arbitrators of "truth".
We must hold these companies accountable for their actions and insist on transparency. We need to vote with our wallets. "ACVF is currently refusing to invest in 30 such companies," said CEO and co-founder William Flaig, adding "I'm proud to offer an alternative to the S&P 500, which currently keeps 25 cents of every invested dollar from these companies."
PayPal's mindset has evolved into its recent announcement that it will fine users $2,500 for misinformation, then backtracked immediately. "PayPal just gave America their view of the future. There's no going back" said Carter.
VISA and other credit card companies recently announced they would apply the International Organization for Standardization's new merchant code to gun shop sales.
"The creation of the new merchant category code was celebrated widely by liberal Democrats and gun-control advocates. They have made it clear this is just the beginning of their campaign to block legal purchases of firearms," wrote U.S. Senator Kevin Cramer (R-ND).
Denials from credit card CEOs that the codes create the ability for credit card surveillance of firearm buyers ring hollow and are unconvincing. "They have inserted their companies into a political debate and have become anti-gun activists. ACVF's management has long held the conviction that politically active companies negatively impact their shareholder returns, as well as support issues and causes that conflict with our conservative political beliefs and values," said Flaig.
Considering AT&T's divesture of CNN earlier this year, we felt it necessary to reevaluate ACVF's boycott of AT&T. The very act of selling one of the liberal media's flagship properties, CNN to Warner Bros. Discovery, Inc. (WBD), is a positive for AT&T shareholders and greatly reduces the risk that politics will harm shareholder value. "Compared to the other communication services companies we are currently boycotting we feel AT&T (less CNN) is now no longer one of the worst of the worst in this sector. We feel reintroducing AT&T to ACVF's portfolio will increase its ability to track the S&P 500 and could allow for more advocacy (boycotts) elsewhere." said Carter
The American Conservative Values ETF (ACVF) is based on the conviction that politically active companies negatively impact their shareholder returns as well as support issues and causes that conflict with our conservative political ideals, beliefs, and values.
ACVF's priority is shareholder returns and providing an investment alternative for politically conservative investors. Simply put, ACVF seeks to boycott as many companies hostile to conservative values as possible without sacrificing performance. ACVF is designed to replace your current large-cap investments.
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SOURCE: American Conservative Values ETF