After a multi-day rally to start the week, shares of video game retailerGameStop Corporation(NYSE:GME) are crashing Friday morning with news of preliminary quarterly results and an announced share offering.

What Happened:The week started with a bang for GameStop and other meme stocks with the return of the Roaring Kitty account on social media, believed to still be owned byKeith Gill, a prominent figure in the 2021 short squeeze storyline.

GameStop shares hit new 52-week highs on both Monday and Tuesday before seeing declines later in the week.

On Friday morning, the video game retailer announced...