ACVF deletes IBM - Divesting in the Wake of Illegal Diversity-Focused Hiring Practices

WASHINGTON, DC / ACCESSWIRE / December 14, 2023 / Today, the American Conservative Values ETF (NYSE:ACVF) announced that it has divested its holdings of and initiated a "Refuse to Buy" rating for International Business Machines (IBM).

After a comprehensive review of our continued investment, ACVF's management team has decided to divest its holding of International Business Machines (IBM).

"Considering the recent revelations of their CEO coercing managers to use discriminatory practices in hiring process, it is clear that IBM has lost its way. Clear proof that they are placing politics ahead of shareholders," stated ACVF CEO and co-founder William Flaig

"Corporate initiatives that push environmental, social, and governance (ESG) policies, particularly diversity and inclusion initiatives, are particularly concerning. Are they prioritizing DEI over maximizing shareholder returns?" asked ACVF's president and co-founder Tom Carter. He added that "we believe in meritocracy in employment and, although diversity can be good in certain instances, mandated diversity can negate hiring policies that should be based on merit."

ACVF believes the economic tool of denying companies capital is a powerful and immediate impetus for management to focus on business. ACVF refuses to invest in the companies most at risk to the "woke/liberal agenda" and its wasteful misallocation of investors' capital.

"It's a moral imperative to stop and roll back the left's takeover of corporate America," stated Flaig. "Giving conservative investors the power to fight back is why we built ACVF."

"Our principled boycotts should reflect concerns within the conservative community, such as the suppression of conservative voices and services, woke corporate culture, biased media, freedom of religious expression, the right to bear arms, and sanctity of life," said Flaig.

"We must hold companies accountable for their actions. We need to vote with our wallets and deny them access to the capital they need. ACVF is currently refusing to invest in 35 such companies," stated Carter. "I'm proud to offer an alternative to the S&P 500*, which currently keeps 25 cents of every invested dollar from these companies."

Tom Carter reiterated, "we do not want to give the companies that are eagerly working to destroy conservative values our hard-earned investment dollars, and neither should you. Companies like Walt Disney, Blackrock, Google, Amazon, and others."

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