ABEV - Anti-ESG ETF BAD debuts with a focus on gambling alcohol and cannabis stocks
The B.A.D. ETF (BAD) has been launched by The Bad Investment Company today on the New York Stock Exchange. BAD is an ETF that provides exposure to investors around U.S. listed companies involved in B.A.D. market segments such as betting, alcohol, cannabis, and drugs (pharmaceuticals and biotechnology). Moreover, the new ETF aims to track the EQM BAD Index, which is +13.5% year-to-date and has 57 holdings led by AbbVabevie Inc. (NYSE:ABBV), Ambev S.A. (NYSE:ABEV), and Aurora Cannabis (NASDAQ:ACB). See a chart below of BAD’s top ten holdings and weightings. The Bad Investment Company believes that ESG funds are overvalued and oversaturated and have yet to achieve significant cash flows or profitability. Additionally, there is also a lack of clarity in what constitutes a company to be ESG. In turn, BAD was created to capitalize on the opposing companies that are predominantly left out of the ESG sphere. BAD will also presumably compete for market
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Anti-ESG ETF BAD debuts, with a focus on gambling, alcohol, and cannabis stocks