Investment bankers will make the argument that it doesn’t matter what the stock’s company is about or what it makes, the bottom line is that it gives out dividends. They argue that the company is a means to an end, and everyone makes a profit out of anything and everything. Some people might not agree with this, and believe that what they invest in reflect the person that they are.
One good example of this dilemma is the recent housing crisis. There is some evidence to suggest that banking executives knew that the sub prime loans that they were selling would create a financial mess due to the quantity being moved around. Still, they ignored these facts, and continued mingling them with other financial instruments until they ended up where in the situation they were in.
In the same way, stock market investors might be biased against certain companies that they don’t like. A health conscious investor might pass over stocks of tobacco companies while another might go against companies that don’t serve their employees well.
An argument must be made for these companies, after all, it’s the government’s job to regulate companies who go against the public’s welfare. Unfortunately, the government can only do so much in a market that’s already saturated with stock options.