American Conservative Values ETF Hails Florida Governor Ron DeSantis' Crack Down on Big Tech

Rhea-AI Summary

The American Conservative Values ETF (NYSE: ACVF) supports Florida Governor Ron DeSantis' efforts to regulate Big Tech, aiming to protect free speech and avoid companies that threaten conservative values. President Tom Carter expressed concerns that companies censoring conservative voices may face financial repercussions such as fines and lawsuits. DeSantis proposes a $100,000 daily fine for companies removing political candidates and allows Floridians to challenge social media platforms legally. ACVF aims to provide conservative investors an alternative to traditional ETFs while managing active risk against market benchmarks.

Positive

• Support for Governor DeSantis' legislation could attract conservative investors looking for value alignment.
• Potential for ACVF to differentiate itself in the market by appealing to conservative investors concerned with Big Tech censorship.

Negative

• Companies targeted by DeSantis' proposals may face financial penalties, impacting overall market stability.
• ACVF's strategy may limit investment opportunities by excluding companies perceived as supporting liberal agendas.

WASHINGTON, Feb. 8, 2021 /PRNewswire/ -- Today the American Conservative Values ETF (NYSE: ACVF) hails Florida Governor Ron DeSantis' effort to crack down on Big Tech.

"Governor DeSantis' effort to rein in Big Tech is a bold and necessary move to hold Big Tech responsible for silencing free speech and it also validates our decision to boycott investing in companies that may threaten our liberties," said Tom Carter president of Ridgeline Research adviser to the American Conservative Values ETF.

Moreover, the governor's action highlights the potential business risk in terms of potential financial penalties, lawsuits and reputational damage for companies that censor Conservative thought and expression. "Big Tech is creating political backlash by selectively targeting conservatives," added Carter.

DeSantis announced he wants legislation to penalize companies he described as "monopoly communications platforms" such as Facebook, Twitter, Google, Apple and Amazon that use their dominance to censor Republican voices.

"We believe companies that engage in advancing a liberal agenda may negatively impact shareholder returns over the long run," said Carter.

Specifically, DeSantis proposes the legislation will establish a $100,000-a-day fine to punish companies that remove a political candidate from platforms and another measure would allow Floridians and Florida's attorney general the ability to file lawsuits if social media platforms do not equally apply standards. 

"We created the American Conservative Values ETF for the political conservative investor who wants to avoid investing in companies that actively attack their political values," added Carter.

About ACVF

ACVF seeks to boycott ownership of companies which the adviser determines support liberal causes, charities, advocacy groups, campaigns, candidates, PACs, and think tanks. The fund is designed to be a core holding replacement for Large Cap Index ETFs and Mutual Funds. Its portfolio is broadly diversified and seeks to manage active risk to capitalization-weighted benchmarks such as the Russell 1000 and S&P 500.

View original content:http://www.prnewswire.com/news-releases/american-conservative-values-etf-hails-florida-governor-ron-desantis-crack-down-on-big-tech-301224307.html

SOURCE American Conservative Values ETF

FAQ

What is the American Conservative Values ETF's stance on Big Tech?

The American Conservative Values ETF supports Governor DeSantis' efforts to regulate Big Tech to protect free speech and conservative values.

What penalties are proposed for Big Tech companies by DeSantis?

DeSantis proposes a $100,000 daily fine for companies that remove political candidates from their platforms.

How does ACVF aim to support conservative investors?

ACVF aims to offer a portfolio free from companies that attack conservative values, providing an alternative for politically conservative investors.

What is the potential impact of DeSantis' legislation on shareholder returns?

DeSantis' legislation could negatively impact shareholder returns for companies that engage in censorship of conservative views.

What kind of companies does ACVF avoid investing in?

ACVF avoids companies that are believed to support liberal causes, charities, and advocacy groups.