I saw an article a while back that Blackrock is behind the woke advertising campaigns of so many companies. The message from the article is that Blackrock wants to promote woke ideology; companies do it because Black Rock is major shareholder. It's obvious this doesn't increase stock prices, so perhaps they do it while shorting those very companies they push the woke ads on.
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I have been saying this same thing....my take...."Go woke, drive down stock price. Stock is held in a mutual fund that is in my active 401K (MY MONEY). "
A brokerage firm manages that mutual fund. Woke stock is held until it bottoms (LOOSING MY MONEY), then stock is liquidated from the mutual fund (probably TO blackrock).
My ability to retire early is hindered (by design), mutual fund mangers makes money coming and going, blackrock gains more shares/control, woke company really does not suffer, stock rebounds in a few months, all smoke and mirrors with the media being complicit in the sham.
Blackrock manages the govt,401k system for their employees.
A+ answer.