Perhaps I’m getting schooled here by you, GP, but it won’t be without skepticism on my part:
While, I can buy the idea that blackrock and perhaps Vanguard have social agendas. I would think that applies to their actively managed funds. Do you know that is the case with their passive funds too or are you assuming it is? How does it work for a passively managed fund that simply trying to match the index? I think not all of the stocks go into their Total Market indexes so perhaps they could say “if you don’t comply you’re not going in the index”. Is that what you were thinking?
…I think you are implying that their purchases of lightwave help to buoy lightwaves stock price. My understanding from a simple google search is that mutual funds purchase after the market close. This implies that retail determines the price during the trading day - and that mutual funds do not. If they don’t, then the threat of not buying would seem to be empty.
Are you suggesting they work with shorters during the day? I don’t see how that works especially if their goal is to simply match the index rates of return. None of this makes any sense to me. How do they exert control if retail is actually controlling the price, and they’re just matching it after the close?