This ETF is shorting Meta stock. Here's why:
the firm was not doing what it claimed in regard to removing hate speech and posts encouraging violence — made it unsuitable for the ETF. The fund takes a short position on 40 Meta shares, the only one out of the 59 companies in its holdings.
“Facebook seems to be the antithesis of what actual consumers want their digital futures to look like,” said Auerbach. “Mark [Zuckerberg] and his team are not the best custodians of our digital futures.”“We want to make sure this industry develops, without getting"Zucked-up," from those who see the true potential of this space."
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