GameStop Corp. (NYSE: GME) shares closed at $23.64 on Monday, February 23, 2026, up 0.90% from the previous session’s $23.43 close, capping a volatile period where the once-dominant meme stock has traded in a narrow range amid fading retail frenzy and renewed scrutiny on the company’s cash position and strategic direction.

The stock has hovered between approximately $22.79 and $23.70 in recent sessions, reflecting limited directional momentum following the 2021 short squeeze that propelled it to an all-time high of $86.88 (split-adjusted) on January 27, 2021. Year-to-date in 2026, GME is up modestly around 14-15%, but it remains down about 5.4% over the past 12 months and trades well below its pandemic-era peaks. Trading volume on February 23 stood at around 5.6 million shares, below average for the volatile name.

GameStop’s market capitalization sits near $10.6 billion, supported largely by a cash hoard exceeding $9 billion amassed through equity offerings during meme surges. The company has no debt and generates modest free cash flow from its core retail operations, but investors increasingly view it as a capital allocation vehicle rather than a traditional turnaround story in the declining physical video game market.

CEO Ryan Cohen, who took control in 2021 and has pursued a Bitcoin treasury strategy and store closures, has faced criticism for limited transparency on deployment plans. Recent insider activity shows Cohen and other executives continuing to buy shares, signaling confidence, while some institutional holders have trimmed positions. Analysts note mixed signals: insider accumulation suggests belief in long-term value, but institutional selling raises questions about conviction.

A February 23 Seeking Alpha analysis described GME as “still in limbo,” arguing the stock’s valuation hinges more on management’s ability to deploy cash at attractive returns than on retail recovery. The piece rated it a Hold, citing risks if capital is not invested effectively in acquisitions or other high-return opportunities.

Speculation around mergers or major deals persists. Cohen has hinted at pursuing “very big” acquisitions of publicly traded companies, per CNBC reports from late January 2026, potentially transforming GameStop into a holding company. No concrete announcements have materialized, leaving investors to weigh the cash pile against ongoing store closures (hundreds expected in early 2026) and declining same-store sales in physical media.

The meme stock narrative has cooled significantly since 2021. Social media-driven short squeezes, once fueled by Reddit’s WallStreetBets, have given way to more traditional analysis. Recent research from the University of Kansas highlighted how online discussions amplified volatility in 2021, but today’s trading shows lower retail participation and more muted swings.

Analyst coverage remains sparse and bearish overall. Consensus price targets hover around $13-15, implying downside from current levels, though some models project higher fair values (up to $110+ in optimistic discounted cash flow scenarios) if management executes transformative moves. The stock’s forward P/E remains elevated given modest earnings, with focus shifting to free cash flow generation and potential Bitcoin exposure as hedges.

GameStop’s core business continues to face headwinds from digital downloads, streaming, and competition from Amazon and other retailers. The company has closed hundreds of stores globally and shifted toward collectibles, trading cards, and e-commerce, but physical sales remain under pressure.

As February 2026 progresses, attention turns to the next earnings report (expected late March or April) for updates on cash deployment, Bitcoin holdings (if any), and store rationalization. Until clearer strategic moves emerge, GME is likely to trade sideways, with occasional volatility from social media or insider activity.

For long-term holders, the $9 billion cash position provides a floor and optionality, but execution risk remains high. The stock’s meme legacy endures, but 2026 increasingly looks like a test of Cohen’s vision beyond retail revival.

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National Gas, Centrica, Equinor and SSE Thermal have joined forces to bid for £500m government funding to develop the UK’s first integrated hydrogen network in the region

Four energy giants have united in a bid to create the UK’s first crucial hydrogen network in the Humber region.

National Gas, Centrica, Equinor and SSE Thermal say thousands of jobs could be created by Humber Hydrogen.

Together, the major employers argue that nowhere else in Britain can rival the infrastructure, expertise and location required to establish the network. They maintain that by supporting the regional proposal the Government will be able to advance its broader industrial decarbonisation strategy, enhance competitiveness, and generate substantial numbers of jobs.

The consortium is submitting proposals under the Government’s Hydrogen Transport and Storage Business Model processes – a competitive process that will determine where Britain’s first integrated hydrogen network is constructed. The funding decision is scheduled to be made this year, and is anticipated to be worth approximately £500m.

The funds will establish the infrastructure that will underpin large-scale hydrogen deployment across the UK.

The companies are pooling their expertise in hydrogen transport, production, usage and storage to support plans for developing a first-of-its-kind coordinated hydrogen network in Britain, connecting projects across Yorkshire and Lincolnshire including locations such as Aldbrough, Easington, Saltend, Immingham and Keadby, to link hydrogen production with industrial customers and power stations.

Richard Gwilliam, chair of the Humber Energy Board, said: “Backing plans to deliver hydrogen infrastructure in the Humber in 2026 would be a game-changing decision from Government which would support the transformation of the region’s economy and enhance our critical role in providing energy security for the UK. This proposal, an essential part of long-held plans to create a low-carbon industrial cluster, is backed by experienced energy and infrastructure companies that are prepared to invest billions in the region, creating jobs and economic growth for decades to come.”

“Now is the time for the Government to unlock the region’s potential and re-energise the Humber.”

Multiple large-scale hydrogen schemes are planned for the Humber, including the H2H Easington and H2H Saltend hydrogen production facilities, alongside Aldbrough Hydrogen Storage. Combined, Easington and Saltend could generate up to 3GW of hydrogen, reports Hull Live.

The proposed infrastructure would also be ideally positioned to link with a national hydrogen transmission system being developed by National Gas, distributing hydrogen throughout the UK to industrial hubs.

Ian Radley, chief commercial officer at National Gas said: “We believe the Humber is the obvious choice to be the home of Britain’s first hydrogen network. Nowhere else in Britain can match what it offers in industrial demand, infrastructure, supply chains, geological storage and skilled people who can unlock Britain’s clean power potential.

“Together with our partners we’re bringing our expertise in transporting, manufacturing and storing hydrogen to keep the industrial heart of North East England beating.”

Kelly de Azevedo Dent, development director at SSE Thermal, commented: “The Humber is integral to the UK’s clean power and economic growth missions and becoming the country’s first Hydrogen network will help to unlock its potential. The region is home to a wide range of projects across the hydrogen value chain, with these projects crucial to delivering skills and jobs opportunities in the area – that is why we’ve come together as Humber Hydrogen to drive progress forward.”

Ian Livingston, head of UK Hydrogen and Ammonia at Equinor, added: “We’re proud to be part of the efforts to bring hydrogen infrastructure to the Humber and kick-start a new low-carbon economy in the UK’s most carbon intensive region. The geology, concentration of industry and existing skills base make this the natural home for the UK’s first hydrogen transport and storage network.”

Martin Scargill, managing director of Centrica Energy Storage + at Centrica stated: “Humber Hydrogen is a major opportunity for the UK to accelerate low carbon economic growth and strengthen its leadership in hydrogen. By backing the Humber, the Government can drive industrial decarbonisation, boost competitiveness, and create thousands of skilled jobs across a region that sits at the heart of the UK’s energy system. Centrica has long invested in the people and infrastructure that make the Humber strategically vital to the UK economy and we’re proud to work with our Humber Hydrogen partners to help deliver a cleaner, more resilient energy future.”

The initiative is supported by local politicians. Graham Stuart, MP for Beverley and Holderness, commented: “If the country is to take advantage of key technologies, reduce emissions, create jobs and cut bills, we need action. That’s why we need the Government to support hydrogen infrastructure in our area and bring investment back to the Humber.”

Melanie Onn, MP for Great Grimsby and Cleethorpes, said: “The Humber is the ideal place to locate the UK’s first hydrogen network, given its geology, geography and the wide range of key industries on both banks of the Humber Estuary that can benefit from its use. Hydrogen will play a key role in the energy transition, helping major employers in this region to reduce emissions whilst retaining jobs and stimulating economic growth. We want to see the hydrogen economy kick-started here in the Humber.”

Spirit Airlines announced Tuesday that it reached a deal with lenders that will allow it to exit bankruptcy by the late spring or early summer.

The low-cost carrier filed for its second bankruptcy in August 2025 amid mounting losses and dwindling cash reserves. Spirit first filed for Chapter 11 bankruptcy protection in November 2024 after unsuccessful merger talks with JetBlue and Frontier.

The airline will still face challenges under the deal, though it has a clearer path to survival after months of uncertainty, failed acquisitions and infighting amongst its creditors. Spirit has pushed to cut costs and build liquidity to avoid a liquidation scenario.

Spirit Airlines announced it reached a deal to exit its second bankruptcy by late spring or early summer. (Eva Marie Uzcategui/Bloomberg via Getty Images)

Spirit told the bankruptcy court that it expects to emerge from the process as a leaner airline that’s focused on routes and time periods with the strongest demand, after cutting some of its high-cost aircraft leases and improving the utilization of its remaining fleet.

SPIRIT AIRLINES FILES FOR SECOND BANKRUPTCY IN UNDER A YEAR AS LOW-COST CARRIER CONTINUES TO STRUGGLE

The air carrier plans to tighten its network around higher-demand periods, boosting aircraft use on peak days while scaling back during off-peak days, while adjusting capacity to account for seasonal swings in air travel.

The company also plans to expand its premium seating options, including Spirit First and Premium Economy, and enhance its Free Spirit and co-brand loyalty programs that would allow it to preserve its low-fare positioning while driving repeat business.

Spirit projects that its total debt and lease obligations will decline under the bankruptcy deal from $7.4 billion before its Chapter 11 filing to about $2.1 billion when it exits bankruptcy. 

SPIRIT AIRLINES SLASHES FLIGHTS, WARNS OF MORE JOB CUTS AMID SECOND BANKRUPTCY

The deal could open the door to an acquisition in the future, as Spirit’s lawyer said during a hearing on Tuesday that it could allow the company to weigh “potential future industry transactions” once the airline is stabilized.

Budget air carriers have faced headwinds from tepid leisure travel demand as well as fare pressure and excess capacity caused by competition from low-fare seats offered by legacy carriers.

BUDGET FLIGHTS HANG IN BALANCE AS BANKRUPT SPIRIT AIRLINES TURNS TO PRIVATE EQUITY FOR LIFELINE: REPORT

Spirit had proposed mergers with JetBlue and Frontier blocked over regulatory concerns. (Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images / Getty Images)

Earlier this month, Spirit announced a deal was reached pending court approval to sell 20 of its Airbus jetliners, most of which aren’t currently in revenue service, to ease its financial woes. 

The budget carrier said the fleet reduction wasn’t expected to impact its flight schedule, and that they would be phased out of the fleet starting in April 2026.

Spirit also recalled 500 of the more than 1,300 flight attendants who were furloughed in December due to the company’s financial problems.

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The Association of Flight Attendants-CWA, the union that represents Spirit flight attendants, said in a statement posted to X that they will be recalled in order of system seniority, with those involuntarily furloughed first.

Reuters contributed to this report.

NVIDIA Corporation (NASDAQ: NVDA) shares traded mixed to slightly lower in early trading on February 25, 2026, closing the prior session at $191.55 on February 23, up 0.91% that day but down modestly year-to-date amid broader tech sector caution. The AI chip leader’s stock has risen about 2.7% in 2026 so far, outperforming the Nasdaq’s 2.5% decline, as investors position for the company’s fiscal fourth-quarter earnings report due after market close Wednesday, February 25.

NVIDIA’s market capitalization hovers near $4.7 trillion, making it one of the world’s most valuable companies. The stock has shown resilience despite volatility, trading in a 52-week range from $86.62 to $212.19. Recent sessions saw NVDA fluctuate between roughly $187 and $194, with average daily volume exceeding 170 million shares during spikes.

The upcoming earnings report is highly anticipated as a litmus test for the AI infrastructure boom. Wall Street expects fiscal Q4 (ended January 2026) revenue of approximately $65.6 billion to $66 billion, up roughly 66-68% year-over-year, driven by explosive demand for Blackwell GPUs and data center accelerators. Adjusted earnings per share are forecasted at $1.50 to $1.53, compared to $0.89 in the prior-year quarter. Guidance for the April quarter is projected around $71.7 billion to $72.5 billion, implying continued triple-digit growth.

Analysts at Wedbush Securities and others highlight hyperscaler capex exceeding prior expectations, with servers and AI infrastructure forming the bulk of forward spend. NVIDIA’s data center segment, which accounted for the majority of revenue in recent quarters, remains the primary growth engine. CEO Jensen Huang has emphasized a multi-year AI factory buildout, estimating $3 trillion to $4 trillion in global investment through 2030, with NVIDIA positioned to capture significant share.

The company shipped millions of Blackwell GPUs in the past year, with Rubin architecture on track for late 2026 launch and subsequent variants (Rubin CPX, Rubin Ultra, Feynman) extending the roadmap into 2028. Sovereign AI, enterprise AI, AI-native startups, physical AI, and quantum computing represent additional long-term opportunities beyond traditional data centers.

Despite the optimism, skepticism has grown over the sustainability of massive AI spending. Wall Street has turned cautious on hyperscaler capex levels, with concerns that returns on investment may lag or that competition from AMD (following its Meta deal) and custom silicon from hyperscalers could pressure margins. Some investors, including Michael Burry, have questioned the scale of depreciation and free cash flow impacts from capex doubling or more in 2026.

NVIDIA’s stock has bucked broader tech weakness in 2026, supported by strong fundamentals. The forward P/E remains elevated but is viewed as justified by growth prospects. Institutional ownership stays robust, with funds like Vanguard and BlackRock maintaining large positions.

The earnings call at 5 p.m. ET on February 25 will feature commentary from Huang and CFO Colette Kress on Blackwell ramp, Rubin progress, and AI demand trends. A strong beat or optimistic guidance could spark a rally, while any signs of slowing growth or margin pressure might trigger volatility.

As NVIDIA approaches its fiscal Q4 results, the market awaits confirmation that the AI supercycle remains intact. With competition intensifying and capex scrutiny rising, the report will shape sentiment for the AI chip leader and broader tech sector in the months ahead.