[GameStop plans to sell up to 45 million shares, market value evaporates by more than $8 billion in three days] Golden Finance reported that GameStop Corp.'s stock price plummeted after previously released documents revealed that the company may sell more shares. The stock, which soared 271% earlier this week driven by the "meme stock" craze, further wiped out its gains. The company's stock price plummeted 20% on Friday. The video game retailer reached an agreement to issue up to 45 million shares and announced a preliminary decline in net sales in the first quarter. In the three-day decline, the stock's market value evaporated by more than $8 billion, and the weekly increase narrowed to 27%. Wedbush analyst Michael Pachter wrote in a report to clients, "GameStop is taking advantage of the recent surge in stock prices to prudently issue shares at a premium, providing itself with more reserves while working to refocus its business and reverse continued operating losses."