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East Coast smoke, GameStop plummets, Tesla-GM partnership: Top stories

Yahoo Finance

Yahoo Finance Live breaks down the top stories of the day, including: Smoke from Canadian wildfires continues to blanket much of the East Coast. GameStop shares sink after the company's CEO is fired. Finally, Tesla and General Motors are partnering up to give GM EV owners access to Tesla chargers.

Video transcript

AKIKO FUJITA: Well, let's get to the three things you need to at the end of your day. A blanket of toxic air engulfing Northeast states likely to last until next week, as the impact of Canadian wildfires heads south. Washington DC is currently under a very unhealthy air quality alert. President Joe Biden saying the US will respond promptly to any Canadian request for more firefighters and air tankers.

New York City airports, including LaGuardia and Newark, are facing ground delays for a second day because of low visibility. And the delays could create a ripple effect on US flights as much air traffic flows through New York and the Northeast.

SEANA SMITH: GameStop shares plunging after the former meme stock Darling fired CEO Matt Furlong and elevated Ryan Cohen to executive chairman. Cohen, who has been anointed by the Reddit community as, quote, the "Meme Stock King," originally founded pet food retailer chewy before joining the board of GameStop in early 2021. He hired Furlong in a bid to boost sales at the embattled video game retailer, with latter's rise also showing a revenue drop and narrowing of losses in the fiscal first quarter.

In 2020, a mixture of short seller panic and retail investor fervor drove shares up astronomically amid the COVID era's meme stock mania.

AKIKO FUJITA: And Tesla continuing to dominate EV infrastructure. General Motors now following in the footsteps of rival Ford Motors and partnering with Tesla to use the carmaker's charging network, gaining access to 12,000 chargers. Now, like Ford, General Motors will also begin installing a charging port used by Tesla known as NACS. This is set to start in 2025.