NEW YORK — StubHub Holdings Inc. shares skyrocketed more than 23% in morning trading Thursday, climbing to $12.57 as investors cheered the ticket resale giant’s robust first-quarter 2026 performance, significant margin improvement and continued progress on debt reduction.

The Nasdaq-listed company, a leading global marketplace for live event tickets, reported strong results after the market close on May 13. Gross merchandise sales (GMS) reached $2.2 billion, up 7% year-over-year. Revenue climbed 12% to $446 million, while adjusted EBITDA rose to $72.1 million with margins expanding over 400 basis points to 16%. The company also announced an additional $100 million debt repayment in May, further strengthening its balance sheet.

CEO Eric Baker highlighted the positive momentum. “We are off to a strong start in 2026 with solid top-line growth and increased profitability,” Baker said in the earnings release. “GMS increased 7% to $2.2 billion, and adjusted EBITDA margin expanded to 16%. Our first quarter results reflect our disciplined execution in a healthy operating environment for both live events and our resale marketplace.”

StubHub reiterated its full-year 2026 guidance, projecting GMS between $9.9 billion and $10.1 billion with adjusted EBITDA of $400 million to $420 million. The reaffirmation, combined with the beat on key metrics, fueled investor enthusiasm and drove today’s sharp rally. Trading volume was significantly above average, reflecting strong buying interest from both retail and institutional investors.

The results come as the live events industry continues its post-pandemic recovery. StubHub has benefited from robust demand for concerts, sports and theater tickets, particularly in major markets. The company’s marketplace model allows it to capture value from secondary ticket sales without the inventory risks faced by traditional retailers. Strategic initiatives around AI-powered pricing, fraud prevention and user experience improvements have helped differentiate StubHub from competitors like Ticketmaster and Vivid Seats.

Analysts reacted positively to the report. Several firms noted the margin expansion and debt reduction as particularly encouraging signs of operational maturity. The company’s focus on high-margin categories and international growth appears to be paying dividends, positioning it well for sustained profitability in the coming years.

For investors, today’s surge underscores StubHub’s potential as a pure-play beneficiary of the booming live events sector. The stock had faced pressure after its 2025 IPO, trading well below its debut price for much of the past year. The strong Q1 performance and reaffirmed guidance appear to have shifted sentiment, with many viewing current levels as attractive for long-term growth investors.

The broader ticketing market has shown resilience despite economic uncertainties. Major tours by artists like Taylor Swift, Beyoncé and other superstars continue to drive record demand, while sports leagues report strong attendance figures. StubHub’s ability to facilitate secondary market transactions has made it an essential platform for fans seeking tickets to sold-out events.

Company leadership emphasized several strategic priorities during the earnings call. These include expanding its international footprint, enhancing AI capabilities for personalized recommendations and pricing, and further improving the buyer and seller experience. The company also highlighted successful partnerships with major sports leagues and entertainment properties.

Financially, StubHub ended the quarter with a solid balance sheet. Cash and cash equivalents stood at $1.5 billion, with payments due to sellers at $1.0 billion. The $100 million debt repayment in May demonstrates management’s commitment to strengthening the company’s financial position and reducing leverage.

The stock’s volatility remains a key characteristic. As a relatively new public company tied to discretionary consumer spending, StubHub shares can swing significantly on news flow related to major events, economic conditions and competitive dynamics. Today’s move, however, appears driven by fundamental strength rather than pure speculation.

Looking ahead, the company will focus on executing its 2026 plan while navigating a dynamic live events landscape. Key risks include potential economic slowdowns affecting consumer spending, increased competition in the secondary ticketing space, and regulatory scrutiny around ticketing practices. Opportunities exist in further digitization of the ticketing ecosystem and expansion into adjacent markets.

For individual investors, StubHub represents a high-growth play on the live events recovery with improving profitability metrics. While risks remain, the company’s strong Q1 results and reaffirmed guidance provide a solid foundation for potential further upside. Analysts will closely monitor upcoming quarters for evidence of sustained momentum and successful execution of strategic initiatives.

As trading continues Thursday, focus remains on whether the gains can hold or if profit-taking emerges after the sharp move. StubHub’s ability to maintain momentum will depend on continued operational execution and the broader market’s appetite for growth-oriented consumer stocks.

The company’s progress in 2026 demonstrates the potential for innovative ticketing platforms to capture significant value in the live events ecosystem. For investors betting on the continued strength of experiential spending, StubHub has emerged as a high-profile name worth watching closely as it scales toward higher profitability.

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GFW Ltd staying at site after earlier housing plans dropped

An East Lancashire online furniture firm has unveiled plans to expand its operation at its base on the West Pennine moors above Darwen.

GFW Ltd is promising that a new warehouse at its existing site at Waterside Park, near Eccleshill village, will create jobs.

The firm has applied for planning permission from Blackburn with Darwen Council for the development off Johnson Road.

A previous scheme for a 95‐home housing estate on the site, which was granted planning approval in August 2024, has been dropped. That proposal would have required the company to relocate its headquarters.

Supporting documents submitted with the new application say:

“The site is in the ownership of GFW Ltd, who operate their business from the site, storing and distributing furniture sold online.

“The site is located within the designated Green Belt.

“The proposal seeks planning permission for the erection of a new storage building within the established commercial complex at Waterside Park.

“The building will sit comfortably within the operational envelope of the wider industrial site.

“It will be used in association with the existing business at the site by GFW Ltd as it continues to grow and more space is required for the storage of products.

“The site currently employs 55 people. The proposal would lead to the creation of an additional eight jobs.

“The existing GFW Ltd operation at Waterside Park has reached full storage capacity and requires additional contiguous floor space immediately adjacent to its current premises to maintain service levels and support modest growth.

“The proposed on‐site building is an operational necessity rather than a preference.

“The business model depends on direct adjacency between storage, packing and despatch to avoid double‐handling of bulky furniture, minimise damage risk, and preserve rapid turnaround times for customers.

“Relocating storage to an off‐site facility would materially increase labour and transport costs, raise HGV movements across the borough, lengthen delivery lead times and introduce significant logistical complexity that would undermine operational efficiency.

“The structure is a modular steel‐framed building designed to provide flexible and efficient storage space.

“It will be located within a valley and therefore at a lower level than the surrounding area, ensuring its visual envelope is contained and limited.

“The proposal represents an intensification and improvement of previously developed commercial land.

“There would be a significant economic boost locally.

“The proposal will deliver clear and measurable social benefits for the local community and the borough’s economy.

“Job retention and creation are primary outcomes.”

Copper prices are rising at a pace that is forcing global markets to rethink the future of industrial commodities. What was once a metal tied largely to construction cycles and manufacturing demand is now being reshaped by artificial intelligence, geopolitical tensions, electrification and deep structural supply shortages.

On Thursday, copper prices on the London Metal Exchange climbed more than 1% to $14,153 per metric tonne, inching closer to the record peak of $14,527 touched in January this year. Since tensions escalated around Iran and the Strait of Hormuz, copper prices have already surged 9%, while year-to-date gains are now approaching 15%.

But increasingly, traders believe this is not merely another short-lived commodity spike. Markets are beginning to price in a future where copper becomes one of the most strategically important raw materials of the AI era.

So what exactly is driving this explosive move?

Copper is no longer behaving like a conventional industrial metal. It is rapidly emerging as a strategic commodity sitting at the centre of the next global technological and energy cycle.

The current rally is being fuelled by a rare convergence of geopolitical disruptions, structural supply shortages, AI-led demand growth and years of underinvestment in global mining capacity. Prices are now trading near historic highs as markets begin to factor in not just a temporary shortage, but the possibility of a prolonged structural supply crunch.
One of the lesser-discussed yet crucial triggers behind the rally is the growing shortage of sulfuric acid linked to the Iran conflict and disruptions around the Strait of Hormuz. Sulfuric acid plays a critical role in copper extraction and refining, especially in heap leaching operations.Nearly half of the world’s seaborne sulfur supply originates from the Middle East, and shipping disruptions have significantly tightened global availability. Adding to the pressure, China has imposed restrictions on sulfur and sulfuric acid exports to protect domestic industries, further worsening shortages across global markets.

“The impact is now being felt across major copper-producing nations such as Chile, Peru and Indonesia. Several large mining operations are already grappling with lower output, operational disruptions and rising refining costs,” Ponmudi R, CEO of Enrich Money, said.

He added that delays in the recovery of Indonesia’s Grasberg mine, declining global ore grades, fuel supply challenges in Peru and weaker Chilean production are collectively placing additional strain on an already stretched supply chain.

At the same time, the AI boom is fast turning into one of the biggest long-term copper demand stories the market has seen in decades.

Every AI data centre, semiconductor fabrication facility, hyperscale cloud infrastructure project, electric vehicle ecosystem and renewable energy grid expansion requires enormous amounts of copper. Markets had previously underestimated the scale of copper demand tied to AI infrastructure. Investors are now increasingly viewing copper as one of the foundational metals powering the AI revolution.

What makes the current setup particularly powerful is the inability of supply to respond quickly. Copper mining projects typically take more than 15 years to move from discovery to production. Ore grades continue to decline globally, environmental approvals have become more difficult, and the pace of major new discoveries has slowed considerably.

The International Energy Agency has already warned that copper could face a major structural supply deficit by 2035 if current trends continue.

“Further upping the demand ante is the fact that China remains the largest copper consumer globally. A recovery in infrastructure spending, grid investment, EV manufacturing and industrial activity has tightened the physical market again,” Nirpendra Yadav, Commodity Analyst at Bonanza Portfolio, said.

Will the world run out of copper?

The world may also be heading toward a serious copper shortage as power demand rises sharply, partly due to the rapid proliferation of AI data centres. That warning was highlighted in the government’s Economic Survey 2025-26.

The scale of copper required for green and high-tech infrastructure is staggering.

For instance, a single 1 GW wind turbine requires 2,866 tonnes of copper. At a typical ore yield of 0.6%, that translates into the processing of roughly 477,667 tonnes of ore, enough to fill 1,194 truckloads assuming each truck carries 400 tonnes.

The Economic Survey noted that this estimate only considers copper-bearing ore and excludes waste rock, overburden, rejected material and processing losses. In actual mining operations, the total material moved per GW of wind power could easily exceed 1–2 million tonnes, underlining the immense logistical and environmental intensity involved in copper production.

Where are prices headed?

From a technical perspective, copper has now entered a strong bullish momentum phase after breaking above key resistance levels near $13,000–13,500 per tonne on the LME.

As long as geopolitical tensions remain elevated and sulfuric acid shortages persist, prices are likely to stay structurally firm despite periods of heightened volatility. Immediate resistance is now seen near the historic $14,500 zone, while support has shifted higher toward the $13,200–13,500 range.

That said, after such a sharp rally, near-term corrections and phases of profit booking remain highly likely, as commodity rallies rarely move in a straight line.

Investors should therefore avoid aggressively chasing vertical spikes. Instead, healthy corrections could offer accumulation opportunities in quality copper-related themes, mining companies, industrial metals ETFs and fundamentally strong metal stocks.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

NEW YORK — PureCycle Technologies Inc. shares surged more than 23% in morning trading Thursday, climbing to $12.57 as investors cheered the company’s accelerating commercial momentum, record quarterly production and favorable regulatory developments supporting its recycled polypropylene business.

The Nasdaq-listed company, which specializes in turning post-consumer plastic waste into ultra-pure recycled resin, has seen renewed enthusiasm after reporting its strongest operational quarter to date. PureCycle produced a record 8.4 million pounds of its PureFive resin in the first quarter of 2026, while processing approximately 10 million pounds of feedstock — both new highs. Revenue reached $4.1 million, marking the fifth consecutive quarter of sequential growth and beating analyst expectations.

CEO Dustin Olson expressed strong confidence during the May 6 earnings call. “Business momentum entering 2026 is the strongest it has been,” he said. “Our confidence in the commercial ramp over the remainder of 2026 has never been higher.” The company highlighted the successful turnaround of its Ironton, Ohio facility ahead of schedule and under budget, along with eight new branded customer conversions across multiple product categories.

A major catalyst for today’s surge appears to be PureCycle’s recent regulatory win in New Jersey. The state’s Department of Environmental Protection granted one-year conditional approval for PureCycle’s PureFive resin as post-consumer recycled content. This allows manufacturers to count the material toward New Jersey’s strict Recycled Content Law, which requires 10% recycled material this year and ramps up to 50% by 2036 for most packaging. The approval is viewed as a significant commercial door-opener, especially with major partners like Starbucks and McDonald’s already using or testing PureCycle resin.

The company is also advancing its international expansion. Plans for a Thailand facility targeting a $250 million investment are progressing, with lower production and labor costs expected to improve unit economics. Management reiterated its 2026 commercial ramp targets, projecting 24.5 million to 91.1 million pounds of resin sales for the year, translating to anticipated revenues between $33.5 million and $123.9 million.

PureCycle’s technology — which uses a proprietary purification process to create food-grade recycled polypropylene — addresses growing demand for sustainable materials. As brands face increasing pressure to meet recycled content mandates and sustainability goals, PureCycle’s PureFive resin offers a high-quality, drop-in replacement for virgin plastic. CEO Olson noted that rising virgin resin prices are making recycled alternatives even more competitive.

Despite the operational progress, the company reported a net loss of $33.4 million for Q1 2026. Adjusted EBITDA stood at negative $30.9 million, reflecting continued investments in scaling production and commercial activities. However, management emphasized that these losses are expected as the business transitions from development to full commercialization.

The stock’s sharp move today reflects high investor interest in companies positioned at the intersection of sustainability and advanced materials. PureCycle has been a volatile name, with shares fluctuating significantly on news flow related to production ramps, customer wins and regulatory approvals. Today’s volume far exceeded recent averages, indicating strong buying interest from both retail and institutional investors.

Analysts have mixed but generally constructive views. While some highlight execution risks and the company’s history of operating losses, others point to the massive addressable market for recycled plastics and PureCycle’s technological edge. Recent price target adjustments reflect growing confidence in the commercial trajectory, though the stock remains speculative given its pre-profit status and capital requirements.

For investors, PureCycle represents a high-risk, high-reward play on the circular economy. The company’s ability to scale production, secure consistent feedstock supply and convert design wins into revenue will determine whether today’s momentum can be sustained. The Thailand expansion and additional state-level approvals could serve as meaningful catalysts in the coming quarters.

PureCycle’s story resonates with broader market themes around sustainability, supply chain resilience and corporate environmental responsibility. As major brands commit to ambitious recycled content targets, companies like PureCycle that can deliver high-quality, scalable solutions stand to benefit significantly.

The surge also highlights continued retail investor enthusiasm for names tied to environmental themes and advanced manufacturing. PureCycle has maintained a dedicated following on platforms like Stocktwits and Reddit, where discussions often focus on production milestones and potential partnerships.

Looking ahead, the company’s next earnings report and any updates on the Thailand project will be closely watched. Management has guided for continued sequential revenue growth and further customer conversions throughout 2026. Success in meeting these targets could support additional upside, while any delays might pressure the shares given current valuation levels.

As trading continues Thursday, focus remains on whether the gains can hold or if profit-taking emerges after the sharp move. PureCycle’s ability to maintain momentum will depend on execution and the broader market’s appetite for growth-oriented sustainability plays.

The company’s progress in 2026 demonstrates the potential for innovative recycling technologies to address global plastic waste challenges while creating economic value. For investors betting on the circular economy, PureCycle has emerged as a high-profile name worth watching closely as it scales toward commercial profitability.

Production fell 2% YoY while rising marginally by 0.1%.

The reported Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 8,634 crore, rising 33% QoQ and 35% YoY while adjusted EBIDTA at Rs 9,713 crores.

The EBITDA margin on adjusted basis stood at 19% in Q4FY26 versus 14.4% in Q3FY26 and 14.5% in Q4FY25.
Iran-US war impactGlobal economic growth remained resilient before the outbreak of the Middle East conflict, supported by stronger-than-expected growth in China during CY25 and in India in FY26. Increased investments in technology and the easing of initially proposed US tariffs also aided the growth momentum.

However, the conflict has triggered a rise in commodity prices, particularly in the energy segment. Despite these pressures, purchasing managers’ surveys suggest that global manufacturing activity has largely remained stable so far, aided by advance buying ahead of anticipated supply chain disruptions and rising costs. China posted a strong 5% growth in Q1CY26, driven by robust exports and improved fixed asset investments, supported by policy stimulus measures.
Metal major JSW Steel on Thursday reported 131% surge in its consolidated net profit to Rs 3,475 crore for the March quarter compared to Rs 1,503 crore in the year-ago period.
The profit after tax (PAT) is normalized and does not include exceptional gains from the slump sale of BPSL.
The company’s revenue from operations grew 14% year-on-year (YoY) in Q4FY26 to Rs 51,180 crore versus Rs 44,819 crore in the corresponding quarter of the last financial year.

Including the exceptional gains, the PAT stood at Rs 19,243 crores in the quarter under review. The figure was arrived at after considering an exceptional gain of Rs 17,888 crores, which includes 18,051 crores gain on slump sale of BPSL steel undertaking and 163 crores exceptional charge on employee obligations arising from the implementation of the New Labour Code in Q4, in addition to the charge taken in Q3, the company filing said.

The bottom line surged 62% on a sequential basis versus Rs 2,139 crore in Q3FY26, while the topline grew 11% compared to Rs 45,991 crore in the October-December quarter of FY26.

The company’s board of directors also recommended a final dividend of Rs 7.10 per equity share for the year ended March 31, 2026. The dividend will be subject to approval by the members at the 32nd Annual General Meeting (AGM) of the company and will be credited on or before 30 days of the AGM.

Listing its key takeaways from the quarter, the Nifty company said crude steel production stood at 7.49 million tonnes, with the company recording its highest-ever quarterly saleable steel sales at 7.97 million tonnes.

Production fell 2% YoY while rising marginally by 0.1%.

The reported Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 8,634 crore, rising 33% QoQ and 35% YoY, while adjusted EBIDTA stood at Rs 9,713 crores.

The EBITDA margin on an adjusted basis stood at 19% in Q4FY26 versus 14.4% in Q3FY26 and 14.5% in Q4FY25.
Iran-US war impact

Global economic growth remained resilient before the outbreak of the Middle East conflict, supported by stronger-than-expected growth in China during CY25 and in India in FY26. Increased investments in technology and the easing of initially proposed US tariffs also aided the growth momentum.

However, the conflict has triggered a rise in commodity prices, particularly in the energy segment. Despite these pressures, purchasing managers’ surveys suggest that global manufacturing activity has largely remained stable so far, aided by advance buying ahead of anticipated supply chain disruptions and rising costs. China posted a strong 5% growth in Q1CY26, driven by robust exports and improved fixed asset investments, supported by policy stimulus measures.