The housing crisis and job loss during the pandemic have ripple effects affecting families, but also impacting the youth, who are old enough to be on their own, but at times end up homeless. A local organization is helping those individuals.
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Sophia Coffey, a 19-year-old student at Arizona State University, scooped up 185 shares of AMC Entertainment over the course of the Covid-19 pandemic. For about $2 to $7 per share, she was betting that the movie theater chain would financially recover after the pandemic. To her surprise, the investment paid off before Covid-19 restrictions were lifted: The GameStop stock frenzy catapulted the value of $AMC to $20 per share by late January, as amateur investors organized to artificially increase the market performance of some declining companies, including AMC. Coffey decided to sell a few days later before it sank, which produced about 400 percent gains, but she’s still holding on to about 85 shares in case the value of AMC surges once theaters reopen.