Admin Bails Out Vape Shops Amid COVID-19 Pandemic

WASHINGTON, D.C. – Amid the public health crisis surrounding COVID-19, an illness that targets the lungs, the Trump administration gave $876,515 of Paycheck Protection Program (PPP) assistance to Healthier Choices Management Corp. — a company whose subsidiaries operate ten vape shops.

Get The Full Ray Dalio Series in PDF

Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Q2 2020 hedge fund letters, conferences and more

Aside From Bailing Out Vape Shops, Tobacco Industry Also Gets A Helping Hand

In addition to offering financial support to shops selling e-cigarettes, which evidence suggests may have severe impacts on lung health in the short and long term, the administration also gave a hand to an industry that may not need the help. Tobacco and marijuana have proven to be largely recession-proof products, not taking huge dips in sales even in times of serious economic downturn.

Qualivian Investment Partners Up 30% YTD; Long ORLY Thesis

Qualivian Investment PartnersQualivian Investment Partners commentary for the second quarter ended July 30, 2020. Q2 2020 hedge fund letters, conferences and more “Short-term investors will accept a 20% gain because they didn’t spend the time to develop the conviction and foresight to see the next 500%.” - Ian Cassell Executive Summary Readers of investment letters fall into Read More

And tobacco sellers have even seen an increase in sales amid the COVID-19 crisis — even as more than 100,000 small businesses have been forced to shutter.

“It’s baffling that the Trump administration chose to bail out a company operating vape shops during a respiratory pandemic,” said Derek Martin, spokesman for Accountable.US. “As thousands of small businesses were choked out of the Paycheck Protection Program by well-connected, publicly-traded companies, the Trump administration chose to give nearly $1 million to a corporation selling recession-proof products that may damage people’s lungs.”

Accountable.US is a nonpartisan watchdog group that exposes corruption across all levels of government.