GameStop has reported earnings for the quarter that ended on August 3, and, to the surprise of some, the retailer has turned a profit. Despite that, GameStop's stock price is sliding--it's down 15% today--due to a downturn in sales and ongoing uncertainty about how GameStop can stay relevant and healthy long term.

GameStop, the video game retailer that became the poster child of the 2021 meme stock frenzy, is once again in the spotlight. Despite reporting a surprising profit in its latest quarter, the company's stock took a significant hit,

Shares of GameStop , a widely watched meme stock, tumbled 15% on Wednesday after the video game retailer reported a bigger drop in quarterly revenue, questioning its ability to revitalize its business.