The Green New Deal and ESG movement are being pushed on American companies, and their actions in response are negative for shareholders. Large firms like JPMorgan and Goldman Sachs are refusing to loan to energy companies wanting to drill in Alaska. This action and others done to appease ESG groups could result in shareholder lawsuits. I spoke about it on CNBC.

Holdings disclosure: GS has a weighting of 0.64% in the MAGA ETF as of 2/29/20. JPM is not a holding in the ETF.