this is a developing story check back for updates meme stocks tumbled on tuesday with huge trading activity in the shares gamestop dropped more than 9 with more than 6 million shares traded through 1015 am et already more than its 30day average fullday volume of 46 million amc entertainment shares lost 3 with 76 million shares traded already more than its 30day average of 51 million the reason for the moves were not immediately clear but both stocks are up big this month amid a broader comeback rally on wall street so some investors could be using that pop to take profits in the volatile shares there was a large block trade of gamestop at the open of trading on the nyse according to factset data the nyse briefly halted both stocks for volatility shortly after the open gamestop shares rallied a whopping 67 last week as traders got a vote of confidence when chairman ryan cohen bought additional 100000 shares of the video game retailer meanwhile amc saw a 28 gain last week after the movie theater chain revealed its move to buy a tiny gold miner