Miami Mayor Francis Suarez Declares State of Emergency and Institutes Curfew in Miami after Investing $10 million in DoorDash ($DASH)

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Miami Mayor Francis Suarez Declares State of Emergency and Institutes Curfew in Miami after Investing $10 million in DoorDash ($DASH)
<a href="https://pixabay.com/users/Caniceus/">Caniceus</a> / Pixabay

Francis Suarez, the mayor of Miami Beach declared a state of emergency and subsequently invoked an 8 pm curfew for the South Beach entertainment district, with closures of major causeways, to control an overwhelming spring break crowd. The city announced that the curfew will be in place for at least a week and likely up until April 12.

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A Curious Decision

This was a curious decision after the city’s tourism arm reportedly pumped over $5 million into an advertising campaign touting Miami and its lax COVID-19 restrictions as the preeminent spring break location.

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You really have to feel for city officials, who surely could not have expected that their actions would have resulted in 10s of thousands of lockdown desperados flocking to their sunny beaches. I mean, how could they? Advertising isn’t exactly a proven strategy… And it is not like Florida is one of the only open, temperate places in the U.S. right now.

A modern tragedy of epic proportions for the movers and shakers tasked with overseeing the great city of South Beach.

Francis Suarez's Investment In DoorDash

Fortunately, not all was lost for city officials. Mayor Suarez was sure to pull together a neat 10 mil to invest into $DASH last Friday after there was a growing concern that the City was going to have to shut down again.

“Listen… Shutdowns are a terrible thing,” Suarez said, “It is not something I wanted to do. But we had to. So at least I can make a little bit of scratch off of it. My finance guy thinks we can net at least a 25-percent return on this move if the shutdown lasts long enough. And he used to work with Jeff Epstein, so he knows his shit.”

This article first appeared on The Stonk Market

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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