US Stock Market Move | Meme stock GameStop Corp. Class A (GME.US) drops over 15% after financial earnings report.

On Wednesday, meme stocks fell, with GameStop Corp. Class A (GME.US) dropping over 15% to $19.72, AMC Entertainment Holdings, Inc. Class A (AMC.US) falling over 3% to $4.795, and BlackBerry Limited (BB.US) dropping 0.21% to $2.375. GameStop Corp. Class A reported a fourth consecutive quarter of declining sales, with revenue for the second quarter ending on August 3 down 31% year-on-year to $798 million, below the market expectation of $896 million. Net profit was $14.8 million, compared to a loss of $2.8 million in the same period last year, with earnings per share at $0.01, compared to the market expectation of a loss of $0.09 per share.