NHL Stock Watch: Olympic Impacts on Trade Values

The NHL paused during the 2026 Winter Olympics, but the tournament’s happenings still had certain NHL implications, and not just injuries to players like the Los Angeles Kings’ Kevin Fiala. Many players earned different deployments on their national teams than we’re used to seeing on their club teams – be they increased roles or simply getting to play alongside different supporting casts – and might have changed their trade values as a result.

With the March 6 NHL Trade Deadline just 11 days out, here’s a look at players who altered their stocks for better or worse in Milan.

Jordan Binnington, G, Canada (St. Louis Blues)

Unlike at the 4 Nations Face-off, Binnington couldn’t make that one extra save necessary to keep Canada atop the hockey mountain. But Canada also wouldn’t have even reached the Olympic Final without his game-saving stops against Czechia and Finland in the quarterfinal and semifinal. Binnington’s puckhandling was a massive asset, and his bend-but-don’t-break aura was mostly effective, yielding a .917 save percentage. Considering his value was on the floor entering the Olympics, with him saving the fewest goals above expected per 60 minutes in the NHL among regular staters, he undoubtedly improved his worth in Milan. Stock: UP

Samuel Hlavaj, G, Slovakia (Minnesota Wild)

In the weeks leading up to the tournament, trade buzz bubbled around Jesper Wallstedt, the Wild’s emerging young star in net. After acquiring superstar defenseman Quinn Hughes, Wild GM Bill Guerin was ready to continue his all-in push and chase a center – with some reports that he’d even be willing to sacrifice Wallstedt in the process. But Hlavaj’s inspired play in Slovakia’s net (before the floor finally fell out in the semis) gives Minnesota options. Hlavaj himself established his trade value, and he’s relatively expendable at third on the depth chart behind Filip Gustavsson and Wallstedt. The other perspective: Hlavaj looked so good in Milan that he has potential as Minnesota’s long-term No. 2 and makes it less painful to trade Wallstedt. Either way, Hlavaj’s Olympics showing was great news for the Wild. Stock: UP

Rasmus Ristolainen, D, Finland (Philadelphia Flyers)

Ristolainen brings the kind of tool set that attracts GM interest at every Trade Deadline: huge frame and reach, right-handed shot, mobile for his size and physical. The problem for Ristolainen: his 2025-26 sample size was just 19 games heading into the Olympic break as he started his season late due to triceps surgery and had an additional injured-reserve stint due to an upper-body injury. He’s also fairly untested in high-stakes action with zero career playoff games midway through his 13th season. The Milan Winter Games offered a chance for him to show he’s healthy and capable of handling tough minutes in must-win games. On top of playing more than 19 minutes a game, he was a team-best plus-9 for the tournament; we all hate plus-minus as a stat, but the IIHF data is pretty limited, so we’re going off what we have, and the fact he and partner Niko Mikkola tied for that number at least tells us their pair won their minutes. He had a strong, physical tournament and played a reasonably essential role in helping Finland win bronze. It’s no wonder half a dozen teams are now calling GM Danny Briere about Ristolainen, as my colleague Anthony Di Marco reports. Stock: UP

Mika Zibanejad, C, Sweden (New York Rangers)

Even as the Broadway Blueshirts retool their roster, having already dealt Artemi Panarin and Carson Soucy, Zibanejad is a long shot to acquire moved given he still has four years left on his contract at a hefty $8.5-million cap hit, with all that remaining term making salary retention an icky question of the Rangers. But he’s enjoyed quite a resurgent season in New York, pacing for his best goal and point totals since 2022-23, and he led Sweden in goals at the 2026 Olympics with three in five games. At 32, he can still be an above-average scoring-line center in the NHL, and the Winter Games shed additional positive light on a season that has spiked his value. Stock: UP

Kevin Fiala, LW, Switzerland (Los Angeles Kings)

Fiala is one of 147 NHL players representing their native country in the 2026 Winter Games, and one of 11 players on Switzerland’s roster. Unfortunately, Fiala’s Olympic experience was cut short. Not the ending I imagined for my first Olympics, Fiala wrote on Instagram. Thank you everyone for reaching out. I truly appreciate the support. Biggest good luck to my team Switzerland, go get them! The Swiss Ice Hockey Federation confirmed that Fiala will be ruled out for the rest of Milano Cortina 2026 after undergoing surgery on his left leg. He was stretchered off the ice in Switzerland’s Group A loss against Canada on Friday (13 February). Stock: DOWN

Mathieu Eller, C, Denmark (Ottawa Senators)

Eller is 36 years old and 1,159 games into his NHL career and is an 11-minute guy on Ottawa’s fourth line nowadays. It was asking a lot to play him more than 18 minutes a game in Milan as Denmark’s No. 2 center at even strength and No. 1 center on the power play. He managed just a single assist in four games for an overmatched Danish squad. The tournament served as a reminder for any suitors not to view Eller as a third-liner going forward; he’s a fourth-line depth piece at best. Stock: DOWN

Eeli Tolvanen, LW, Finland (Seattle Kraken)

With his mix of feisty physicality and power-play acumen, Tolvanen had sleeper potential as a secret weapon for the Finns. But he only played 10:42 per game and wound up scratched for Finland’s semifinal battle vs. Canada. The Kraken still hold a playoff spot and thus can’t be counted on to turn seller yet anyway, but it could still happen, and Tolvanen didn’t get a great showcase in Milan, mustering one goal and no assists in four games before padding his stats with a couple assists in the bronze-medal game after replacing the injured Mikko Rantanen. Stock: DOWN

Dominik Reichel, RW, Germany

Traded, waived and unclaimed, Reichel hit rock bottom this season. He last skated in an NHL game in late November and hasn’t been a needle mover with AHL Abbotsford this season. But the Germans deployed him in a significant role at the Milan Games on the Leon Draisaitl line. Reichel logged more than 16 minutes a game, and his two goals tied him with Draisaitl for second on the team. Reichel is still just 23 and has great speed; will he resurface on the trade radar after showing he could hang with a superstar? Stock: UP

Filip Ekman-Larsson, D, Sweden

It wasn’t necessarily Ekman-Larsson’s fault. None of us could’ve predicted coach Sam Hallam would all-out bench ‘OEL’ for a game given the outstanding season he’s had. He played just 10:27 per game in the tourney, seventh-most among Tre Kronor blueliners. His trade value remains pretty high as a Stanley Cup champion with a well-rounded game and a couple years left on his contract at an affordable $3.5-million cap hit, but the Olympic tourney did him no favors. Stock: DOWN

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FAQ

• What impact did the Olympics have on NHL trade values? The Olympics provided a stage for players to either increase or decrease their value based on their performance and role.
• Which player saw the biggest stock increase? Rasmus Ristolainen saw a significant increase in stock due to his strong performance and physical play in the tournament.
• Which player suffered the biggest stock decrease? Kevin Fiala’s injury significantly decreased his stock, ruling him out for the remainder of the Olympics and the NHL season.

Did you know? Kevin Fiala underwent surgery on his left leg after being stretchered off the ice during a game against Canada.

Pro Tip: Keep an eye on players who exceeded expectations at the Olympics, as they may develop into attractive trade targets for teams looking to bolster their rosters.

What do you think? Let us know in the comments below!