The reigning premiers finally had a win, shocking everyone with an upset victory over the Storm in Melbourne. The Bulldogs did just enough to beat the Raiders and the Panthers were once again awesome as they dismantled the Roosters.
Here's whose stocks are up and down after Round 3.
Our footy experts cast their eye over the week's action to find out whose stocks are up -- whether it's a coaching masterstroke or a player having a blinder -- and whose are down.
Brisbane Broncos
Stocks up: Trailing 14-0 at halftime the Broncos looked like they were heading towards their third straight loss to start the season. But, with a swing in possession after the break, including being marched down the field from the kick-off to score their first try, the Broncos proved that they are never really out of a game. Just like they did in last year's grand final the Broncos powered back scoring three tries to take a 18-14 lead. It was the Broncos of 2025: always dangerous, never down for the count.
Stocks down: A thrilling fightback victory is of course better than a loss, but they can't be good for Michael Maguire's heart. He'll be happy that they have opened their account for the 2026 season, but their defensive resolve still needs a lot of work. Ezra Mam, as good as he is with the ball, can be a liability in the defensive line. Reece Walsh, as good as he is, has been shaky under the high ball. They won the premiership last year, so it's not like they can't overcome these flaws.
- Darren Arthur
Canberra Raiders
Stocks up: Canberra's defensive intent kept them in the contest. They matched the Bulldogs physically and were able to absorb long periods without the ball, which gave them a chance to steal it late. Their energy and determination outshined Canterbury at times, with stars like Hudson Young and Corey Horsburgh aiming up all game long.
Stocks down: Their attack continues to lack polish and direction. The Raiders had chances but didn't look particularly threatening, with their young spine struggling to create consistent pressure. In tight games like this, their inability to execute in key moments is proving costly, and it's becoming a trend early in the season.
- Isaac Issa
Canterbury Bankstown Bulldogs
Stocks up: This was a Bulldogs identity win. Grinding out a 14-10 result against Canberra, they showed patience, defensive resilience and an ability to stay composed in a low-scoring contest. Their line speed and contact through the middle continues to set the tone, while their ability to defend repeat sets late in the game was particularly impressive. Connor Tracey and Enari Tuala embodied that Bulldog DNA on Thursday night.
Stocks down: There are still clear limitations in attack, and it's far beyond the efforts of Lachlan Galvin. The Bulldogs struggled to generate points despite having opportunities, and at times looked short on creativity in good attacking areas. Against stronger attacking sides, they may not be able to rely purely on defence to get the job done.
- Isaac Issa
Cronulla Sharks
Stocks up: There were limited positives, but they did show glimpses of attacking shape when they were able to play on the front foot. Blayke Brailey and Sam Stonestreet led the charge in that regard, lifting the side out of its attacking slump at times. At one point, they even looked the better team, despite the scoreboard.
Stocks down: This was a concerning performance, particularly defensively. The Sharks struggled to handle the Dolphins' speed and ball movement, missing tackles and losing control of the ruck. At home, this is the type of loss that raises questions, not just about execution, but about their ability to respond when momentum swings against them. Once it became clear that the Dolphins were turning things up a notch, the poor old Sharks couldn't get up to compete.
- Isaac Issa
Dolphins
Stocks up: 'Phins up! And I'm not talking about a shark fin. Going to Cronulla and putting 38 points on the Sharks is no small feat, and it highlighted just how dangerous the Dolphins can be when they play with confidence and tempo. Their attack looked fluid through Isaiya Katoa, they won the ruck consistently, and they capitalised on errors with clinical execution. Whether it was Herbie Farnworth, who Dolphins coach Kristian Woolf said is the best centre in the NRL after the game, bouncing out of tackles, or Jake Averllo finding the try line, they looked lethal with every run.
Stocks down: A lack of discipline and direction crept in quietly at moments of this match, which reminded us how young this impressive Dolphins side really is. They'll need to add some polish to their ball handling and decision making, should they wish to push into the finals in 2026.
- Isaac Issa
Gold Coast Titans
Stocks up: Jayden Campbell is the heart and soul of this team and will be for years to come - but can they put enough quality around him? The first try was an absolute beauty, scything through the defensive line with ease. When they took the lead through his breakaway second, an upset may have been on the cards. Instead...
Stocks down: Outside of Campbell it's another tough showing. No forward made over 100 metres, they dropped the ball off the kickoff TWICE after scoring tries, and the spirited defence that was at least there last week did not return on Sunday, particularly on the Scott Drinkwater try. This game was there to be won with 20 minutes left and they couldn't get anything going, and are now winless after three weeks.
- Matt Bungard
Manly Sea Eagles
BYE
Melbourne Storm
Stocks up: Papenwho? No wonder the Storm were more than happy to release fullback Ryan Papenhuyzen early, so that he could pursue other interests. Sualauvi Faalogo is everything Papenhuyzen was, only in a younger body and with maybe just a touch more unpredictable magic in his game. He needs to work on his last line of defence and his consistency, but the future is bright for the Storm No.1 jersey.
Stocks down: It took less than three minutes of the second half, with two penalties and a six again call, for the Broncos to march downfield and score their first try of the game. Two of those indiscretions belonged to Cameron Munster who ripped a ball out in a three-man tackle for the first penalty before refusing to let Reece Walsh up to give away the six again. The third try of the Broncos fightback came with Kotoni Staggs running through the arms tackle of Munster. Towards the end of the game, with victory a converted try away, Munster made several questionable decisions. He has long earned his standing in the game, but has lost some of his sharpness in attack, has his defensive lapses and can often earn the ire of the referees.
- Darren Arthur
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Newcastle Knights
Stocks up: There were brief moments when Newcastle showed fight, particularly early, and they continue to compete despite adversity. No matter who is on the pitch, it's clear as day that this squad wants to play for Justin Holbrook.
Stocks down: The injuries are starting to bite hard. Missing key players in Fletcher Sharpe, Kalyn Ponga and Dylan Brown, the Knights lacked cohesion and struggled to contain the Warriors once momentum shifted. Their defensive structure fell away too easily, and their attack never really looked capable of chasing the game. With Trey Mooney now facing a sideline stint for a dangerous contact charge, things could get a lot uglier.
- Isaac Issa
New Zealand Warriors
Stocks up: This was one of the most complete attacking performances of the round. The Warriors' 38-12 win was built on control through the middle and sharp execution on the edges, with their spine dictating the tempo throughout. Mitchell Barnett looked strong upon his return to footy, while Jackson Ford continued his purple patch to start the year. They looked dangerous whenever they shifted the ball, thanks to the efforts of Tanah Boyd, and they capitalised on momentum rather than letting the Knights off the hook.
Stocks down: The only concern is sustainability. They've now shown how dangerous they can be, whether it's against the injury-riddled Knights or the star-studded Sydney Roosters, but backing it up week-to-week for the majority of the NRL season is the next step, if they want to be taken seriously as contenders.
- Isaac Issa
North Queensland Cowboys
Stocks up: Scott Drinkwater may just be the most exciting player to watch in the entire NRL, and after an 0-2 start to the year and trailing at home to the Titans after 20 minutes on Sunday, it was left to the fullback to turn in a sparkling attacking performance in the final hour. Drinkwater was involved in most of the good things that happened as the Cowboys got a win to take some pressure off of coach Todd Payten.
Stocks down: Whilst Drinkwater produced a few magic moments, the Cowboys had enough ball to put the Titans away long before they actually did. The attack in general is still far too side-to-side and Origin hero Tom Dearden had another quiet game. With how suspect they are defensively, they need more from him if they're going to be competitive.
- Matt Bungard
Parramatta Eels
Stocks up: Coach Jason Ryles has tried a few different forward combinations through three games, but having Jack Williams start at prop and then being able to bring Sam Tuivaiti off the bench looks like the play. Throw in the consistency of Junior Paulo and that's a middle rotation you can be pleased with - although I'd rather Dylan Walker remain as a super sub instead of starting at lock, as he's arguably the best player in the league in that role.
Stocks down: All of the good stuff that Williams and Tuivaiti provided was great, but the sour note of J'maine Hopgood's injury is a tough one to swallow. For a team that had, I think, clearly worked out the best use of their middle rotation, one of their most-consistent performers over the past couple of years is now out for the year.
- Matt Bungard
Penrith Panthers
Stocks up: The young batch of Panthers backs are impressive, but even they would have saluted the 19th minute try to "veteran" winger Brian To'o. Caught on the last tackle on the Roosters' 30-metre line, To'o toed the ball ahead, regathered and then grubbered again to beat James Tedesco. Both times the ball bounced perfectly into his arms, as he raced away to score. He sets a high bar for wingers across the league.
Stocks down: You have to do some heavy duty nitpicking to find a negative in the way the Panthers have been playing so far this year. But, it was noticeable on several occasions that some of the replacement forwards weren't quite up to speed with the action that was flying around them. Billy Phillips, Scott Sorensen and Luke Garner all had their moments when thrown into the fray. With Liam Martin hobbling towards the end of his return from injury, one of them could be stepping up again to start next week.
- Darren Arthur
St George Illawarra Dragons
Stocks up: A team effort from the spine this week in terms of creating points, and if they can get their defence to the point where Shane Flanagan would want it to be, then scoring 20 of their own will be enough to win some games.
Stocks down: But this is the issue - after a very good defensive performance in Las Vegas, the Dragons have now shipped almost 80 points in the two games since. This roster is not equipped for shootouts, and even ignoring the ridiculous penalty try decision that went against them, they need to tighten up if they're going to get enough wins to form a respectable season.
- Matt Bungard
South Sydney Rabbitohs
Stocks up: There won't be many braver performances than the one Jye Gray put in for Souths on Saturday night -- a try and an assist in the first 10 minutes was superb, but it was his work in defence down the stretch that was the real difference. It was a huge gamble to move Latrell Mitchell out of the fullback spot and into the centres, but through three games it looks to be a win/win for everyone.
Stocks down: The middle continues to be a massive concern. While the goal line defence was brave and won them the game in the end, it was once again far too easy for their opponents to roll down the field, with the Tigers kicking from the attacking side of halfway with almost every set of the night. It gets noticeably worse when Cameron Murray goes off the field for a few minutes, which is when the Tigers scored all of their points.
- Matt Bungard
Sydney Roosters
Stocks up: With the club debut of Reece Robson, the 2026 pieces have all fallen into place for the Roosters. Robert Toia who missed the opening round was back to his best in the early exchanges, leaving opposition young star Casey McLean grasping at air for the opening try. The Roosters will continue to improve as the new additions play more games together.
Stocks down: Mark Nawaqanitawase is heading back to rugby union at the end of this year and he'll want to put his performance against the Panthers well and truly behind him by then. Nawaqanitawase wasn't the reason the Roosters lost, but the man he was supposed to be marking did score four tries. Thomas Jenkins should have introduced himself to Nawaqanitawase after the game, because they didn't meet each other during it.
- Darren Arthur
Wests Tigers
Stocks up: The backline has issues but the forward pack has been great through two games. Alex Seyfarth is in career-best form, Alex Twal has added some skill and interplay to his hard running and tackling, and the punch that Royce Hunt provides off the bench is invaluable. Last year it was, at times, just Terrell May, but this year it's a real team effort in the engine room.
Stocks down: At time of writing we're waiting for exact confirmation on how long the Tigers will be without Jarome Luai and Adam Doueihi, but it's going to be a little while at least. After the dizzying highs of last week's huge win at Leichhardt and a season that was looking so promising, the Tigers have come back to earth with a thud and it's going to be hard to see them generating enough points on a weekly basis to be competitive.
- Matt Bungard
