5 LGBTQ+ Friendly Stocks To Trade This Pride Month
June is Pride Month and we want to shine the Contentworks spotlight on a few pro-LGBTQ+ companies, explaining how their stance has helped their stock performance. After that, we’ll find out this week’s fundamental market events you won’t want to miss.
What is LGBTQ+ investing
LGBTQ+-friendly investing involves investing in stocks that have shown specific support for inclusivity, specifically those that choose to promote lesbian, gay, bisexual, transgender, and queer-inclusive policies.
The Human Rights Campaign has created an annual Corporate Equality Index, which actively tracks LGBTQ+ inclusivity in companies. This index is a key factor in ranking a company’s non-discriminatory policies, and therefore, their stock investability to a wide group of investors.
Such policies are a win-win, in real terms. Studies have consistently shown that LGBTQ+ friendly policies strengthen employee retention, lead to a better work culture, and therefore boost shareholder returns.
5 stocks to trade in support of LGBTQ+
Here are five LGBTQ+ friendly stocks to trade this Pride Month.
#1 Apple (AAPL)
Corporate Equality Index score (2022): 100
Stock price growth (12-months): +17.86%
Stock price growth (YTD): +40.27%
AAPL, 2023
Source: Google
Apple has a long history of supporting the LGBTQ+ community. In 2014, the company became the first Fortune 500 company to offer domestic partner benefits to all employees, regardless of sexual orientation or gender identity.
The company is also known for having a strong commitment to diversity and inclusion. In 2022, it was ranked as one of the best places to work for LGBTQ+ employees by the Human Rights Campaign, scoring 100/100 points in the Corporate Equality Index.
#2 Microsoft (MSFT)
Corporate Equality Index score (2022): 100
Stock price growth (12-months): +22.44%
Stock price growth (YTD): +38.95%
MSFT, 2023
Source: Google
In 2012, the company became the first Fortune 500 company to offer transgender health insurance coverage to all employees, regardless of their background, gender, or sexual orientation.
Microsoft is also a big supporter of diversity and inclusion. In 2022, the company was ranked as one of the best places to work for LGBTQ+ employees by the Human Rights Campaign, also scoring 100 points.
#3 Coca-Cola (KO)
Corporate Equality Index score (2022): 100
Stock price growth (12-months): -4.92%
Stock price growth (YTD): -4.27%
KO, 2023
Source: Google
The beverage giant known for brands such as Coca-Cola, Sprite, and Fanta is also a big supporter of LGBTQ+ rights.
The company has staunchly defended employees from discrimination based on sexual orientation and gender identity and expression, having scored 100 percent on the Human Rights Campaign’s Corporate Equality Index every year since 2006. Very impressive!
In 2011, Coca-Cola began offering transgender-inclusive health insurance coverage. And in 2015, it began assisting with the costs of taxes imposed on eligible US employees whose same-sex spouse or partner was enrolled in health benefits, particularly if they lived in states that did not recognise same-sex marriage.
#4 Nike (NKE)
Corporate Equality Index score (2022): 100
Stock price growth (12-months): -9.54%
Stock price growth (YTD): -9.47%
NKE, 2023
Source: Google
In 2012, Nike launched its BETRUE initiative, a grassroots movement among the company’s employees. Today, that movement has become a major part of the company’s image and it runs annual campaigns featuring pairs of rainbow-inspired shoes, workout tops and other apparel, all emblazoned with inspiring messages in support of LGBTQ+ athletes.
Since that year, the company has donated $3.6 million in financial and in-kind support to LGBTQIA+ causes.
In 2016, Nike became the first Fortune 500 company to feature a same-sex couple in its advertising.
#5 Starbucks (SBUX)
Corporate Equality Index score (2022): 100
Stock price growth (12-months): +20.03%
Stock price growth (YTD): -2.28%
SBUX 2023
Source: Google
You might love their coffee, but did you also know that this multinational coffee behemoth is also a long-standing friend to the LGBTQ+ community?
In July 2022, Starbucks joined more than 170 organisations and the Human Rights Campaign in urging the US Senate to pass the Respect for Marriage Act. The company also donated over $700,000 to non-profit organisations supporting LGBTQIA2+ communities last year.
We could easily have added more companies to this list. Thankfully, there are many, many huge companies that support the LGBTQ+ community, including:
● Adidas
● American Express
● Bank of America
● Citigroup
● Disney
● Johnson & Johnson
● Levi Strauss
● PepsiCo
● Siemens
What’s your favourite?
Let us know what your favourite LGBTQ+ stock is by tweeting us at @_contentworks.
Top fundamental events this week
Ready for the week ahead? Here’s everything you need to know about.
Monday, May 29
No major events are scheduled.
Tuesday, May 30
● USD — CB consumer Confidence (May)
Wednesday, May 31
● CNY — NBS Manufacturing MPI (May)
● CAD — GDP Growth Rate Anualised (Q1); GDP Growth Rate QoQ (Q1)
Thursday, June 1
● EUR — Core Inflation Rate YoY Flash (May); ECB Monetary Policy Meeting Accounts
● USD — ISM Manufacturing PMI (May)
Friday, June 2
● USD — Non Farm Payrolls (May); Unemployment Rate (May)
Here at Contentworks we closely follow market movements and prep content that we think your traders would love to read. Let’s get you started right here.
Speak soon!
The Contentworks team
