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More than $200b evaporates from Aussie market since war

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More than $200b evaporates from Aussie market since war

Australia’s stock market has clocked a second straight week of losses and its worst fortnight since mid-2022 as the Iran war continues to crush investor sentiment.

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GameStop (GME) Stock Holds Steady Near $24.50 Amid Acquisition Speculation and Meme Stock Resilience

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Microsoft CEO Satya Nadella says the US tech giant plans to invest $3 billion in India on AI and cloud infrastructure over the next two years

GameStop Corp. (GME) shares traded modestly higher in early March 2026 trading, closing at $24.46 on March 11 after a 0.37% gain, as the video game retailer continues to outperform many peers in the meme-stock category amid ongoing speculation about a major acquisition and CEO Ryan Cohen’s transformation efforts.

GameStop is laying off people as the company tries to fit in with a digitally-transforming videogame industry. In photo: GameStop stock graph is seen in front of the company's logo in this illustration taken February 2, 2021.
GameStop (GME) Shares

The stock opened March 12 around $24.40 and climbed to $24.51 by mid-morning, up about 0.20% from the previous close, according to real-time data from Yahoo Finance and other platforms. Volume remained moderate at around 833,000 shares in the opening hours, below the average daily figure of roughly 5 million.

GameStop has gained more than 20% year-to-date in 2026, rising from about $20.08 at the end of 2025 to current levels near $24.50. This performance stands in contrast to other meme stocks like AMC Entertainment and SoundHound AI, which have declined sharply over the same period. Analysts attribute GME’s relative strength to renewed short-squeeze interest, a robust cash position and persistent buzz around Cohen’s plans to deploy the company’s roughly $8.8 billion in cash reserves for a significant acquisition.

In late January 2026, reports surfaced that Cohen was eyeing a “very big” deal involving a publicly traded consumer company, sparking a rally that pushed shares above $24 in early February. Michael Burry, the investor famous from “The Big Short,” disclosed a long position in GameStop around the same time, further fueling optimism despite his comments downplaying the odds of another massive short squeeze like the one in 2021.

The company has maintained a strong balance sheet, bolstered by previous equity raises and cost-cutting measures, including hundreds of store closures as it shifts away from traditional brick-and-mortar retail toward collectibles, partnerships and potential new ventures. GameStop’s Q3 2025 revenue came in at $821 million, down 4.57% year-over-year, reflecting ongoing challenges in physical game sales amid the rise of digital downloads.

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Options activity has shown mixed sentiment in recent sessions. On March 11, call volume was relatively light but directionally varied, with some moderately bullish trades noted earlier in the week. TipRanks reported mixed options sentiment on March 9 with shares up 0.9%, while other days saw moderately bullish or neutral flows.

Analyst coverage remains cautious. The consensus rating leans toward “Reduce,” with a median price target around $13.50 from a handful of firms, well below current levels. No major Wall Street upgrades have materialized recently, and some forecasts highlight risks from declining core business fundamentals. However, institutional interest persists — Van ECK Associates increased its stake by 58.3% in the third quarter of 2025 to over 3 million shares.

GameStop’s next earnings report is expected around March 24 or 31, 2026, depending on scheduling, with investors watching for updates on cash deployment, store rationalization and any progress on strategic initiatives. The board previously approved a performance-based stock option award for Cohen in January 2026, contingent on shareholder approval at a special meeting likely in March or April, tying his compensation to ambitious long-term goals.

The stock’s 52-week range spans $19.93 to $35.81, with the high reached in May 2025 during earlier volatility. Recent trading has stayed in a tighter band around $23-$25, reflecting a stabilization after the January-February surge.

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Broader market context includes steady U.S. equity gains in early 2026, though meme stocks remain highly volatile and sentiment-driven. GameStop’s ability to decouple somewhat from the pack underscores evolving narratives: from pure speculation to a cash-rich entity potentially pivoting under Cohen’s leadership.

Short interest data has not shown extreme levels recently, tempering squeeze fears, but retail enthusiasm on platforms like StockTwits and Reddit keeps the name in focus. Traders note that any confirmed acquisition news could trigger sharp moves, while continued silence might lead to drift.

As GameStop navigates its post-meme era, the stock’s performance in March 2026 illustrates resilience amid uncertainty. With earnings approaching and acquisition rumors lingering, volatility is likely to persist for shareholders.

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Radiator firm Stelrad sees profits tumble in ‘subdued’ market

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The Newcastle firm has its main manufacturing base in Yorkshire, as well as significant operations overseas

Inside Stelrad Group's Mexborough facility.

Inside Stelrad Group’s Mexborough facility.(Image: Shaun Flannery Photography Ltd)

Radiator company Stelrad saw its operating profit almost halve as revenues fell and it incurred costs in some of its overseas operations.

The Newcastle company, which has its main manufacturing base in South Yorkshire, has released interim full-year results for 2025. They show that revenue fell slightly to £279.6m but operating profit went down by 44% to £17.5m.

But Stelrad said that it was well-placed for growth and that its adjusted operating profit increased slightly to £32.5m. The company recognised exceptional costs of £14.9m relating to restructuring in its Turkish and Danish facilities and an impairment charge on the assets of Radiators SpA in Italy.

The company said it was driving growth in its higher-margin products and continuing to make efficiencies. But continued economic uncertainty in core territories of UK and Ireland and mainline Europe resulted in a 3.8% decline in overall revenues, it said.

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Stelrad said it had successfully renewed its £100m loan facility with existing banking partners last December to reduce future borrowing costs. It increased its recommended dividend to 5.05p, saying that was “reflecting the board’s ongoing confidence in Stelrad’s future prospects, the strength of the group’s balance sheet and cash conversion.”

Chief executive officer Trevor Harvey said: “2025 demonstrated once again our ability to deliver adjusted operating profit growth through the market cycle while continuously improving our operations and positioning as we optimise our business for further progress. There remains a level of uncertainty around the timing of a wider market recovery, however, we remain confident in the opportunities that a market recovery offers for a stronger, simplified and more operationally efficient Stelrad.

Trevor Harvey, CEO of Stelrad

Trevor Harvey, CEO of Stelrad(Image: Stelrad)

“Our leadership positioning across the range of markets where we operate provides us with a platform from which to build and positions the group well to continue to drive the adoption of higher-margin, value-added products, including increasing the penetration of premium panel and higher heat output ranges in key markets.

“The board remains confident in delivering further progress during 2026. Our operational excellence initiatives, underpinned by our competitive advantages and market positioning, mean that Stelrad remains well-placed to outperform its peers in the near term and benefit from any medium-term market recovery.”

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In its statement to the Stock Exchange, Stelrad said that it had market leadership in six of the 10 countries in which it operated and was seeing significant growth in products that reflected the transition to net zero. It said current trading was in line with expectations but that it expected market conditions to remain “subdued” this year.

Stelrad, which dates back to the 1930s, has its headquarters in Newcastle with manufacturing and other facilities in Mexborough, South Yorkshire, and in Turkey, Italy, the Netherlands, Denmark and Poland. It listed on the London Stock Exchange in 2021.

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Adobe shares drop after CEO exit adds to AI-disruption concerns

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Adobe shares drop after CEO exit adds to AI-disruption concerns


Adobe shares drop after CEO exit adds to AI-disruption concerns

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Demand for Perth hotels continues to rise, study shows

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Demand for Perth hotels continues to rise, study shows

A new study on Perth hotels has highlighted investment opportunities as it forecasts growth in visitor demand outpacing the development pipeline.

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WA finally above GST floor as deal hailed 'success'

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WA finally above GST floor as deal hailed 'success'

Western Australia is set to receive a record $9.3 billion in GST revenue for the 2026-27 financial year, a large boost which experts said vindicated controversial reforms in 2018.

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Forget Oil: Iran War Could Eventually Trigger AI Recession

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Forget Oil: Iran War Could Eventually Trigger AI Recession

Forget Oil: Iran War Could Eventually Trigger AI Recession

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At Close of Business podcast March 13 2026

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At Close of Business podcast March 13 2026

Claire Tyrrell and Ella Loneragan discuss ideas from European cities to address the empty spaces in Perth and Fremantle.

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Morgan Stanley cuts KinderCare stock rating on industry headwinds

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Morgan Stanley cuts KinderCare stock rating on industry headwinds

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More Troubled Waters: Heard on the Street Recap

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More Troubled Waters: Heard on the Street Recap

More Troubled Waters: Heard on the Street Recap

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AFC, RM Williams launch fashion manufacturing strategy

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AFC, RM Williams launch fashion manufacturing strategy

The Australian Fashion Council and RM Williams have launched a national plan to rebuild Australia’s manufacturing capability across the textile, clothing and footwear sector.

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