One analyst blacklisted several companies on Monday, citing a reason not often (or possibly ever) heard on Wall Street—moral and ethical grounds.
In the report, Ronnie Moas, Standpoint Research's founder and director of research, downgraded Apple stock from a "hold" to a "sell," reiterated a "sell" recommendation for Amazon.com shares and initiated Philip Morris stock with a "sell" rating.
After holding in his feelings for "too long," Moas wrote that he couldn't sleep despite taking his nightly sleeping pill. At 1 a.m., he reached his boiling point and felt compelled to speak his mind.
Moas' Standpoint bio page states he began his career as an analyst and market strategist at Herzog Heine Geduld, which was bought by Merrill Lynch in 2002, before leaving to start his own firm in 2000. Before this, he served for three years in the Israeli army and worked in concert productions.