Canada wildfires spur US air purifier stocks higher - Here's what is happening
Massive forest fires in Canada have caused a haze to cover much of the US, leading to increased sales of air purifiers and masks. Stocks of companies such as Whirlpool and Carrier Global have risen as a result.
PremiumMassive fires blazed across Canada's forests on Thursday, shrouding most of the US in a haze and sending US air purifier stocks soaring. Stores in New York have seen the devices sell out and it became a top seller on e-commerce websites such as Amazon. New York has urged residents to mask up and many activities have been curtailed to ensure people remain homebound.
According to a CNN report on the situation, shares of Whirlpool, Carrier Global and other companies have risen manifold in the past 24 hours. Home goods manufacturer Whirlpool has seen seen its stock surge 13.2% over the past five days. Stocks rose 6.4% on Wednesday alone.
Meanwhile, Carrier Global which makes residential and industrial air purifiers and HVAC units has gained nearly 11% over the past few days. Shares of Johnson Controls have also seen stock prices rise by 8.5% over a five-day period.
ALSO READ: Canada wildfire smoke triggers air quality concerns in New York. Explained
With weather systems expected to barely budge, the smoky blanket billowing from wildfires in Quebec and Nova Scotia and sending plumes of fine particulate matter as far away as North Carolina and northern Europe should persist into Thursday and possibly the weekend.
Reports indicate that N95 and KN95 mask sales have also spiked in Amazon sales rankings. Visuals shared online and through media reports also showed empty shelves in stores that sold air purifiers and even humidifiers.
The thick, hazardous haze has blotted out skylines and turned skies orange across the US and Canada, disrupting daily life for millions of people. Across the eastern US, officials warned residents to stay inside and limit or avoid outdoor activities again Thursday, extending “Code Red" air quality alerts in some places for a third straight day. The smoke has moved over Greenland and Iceland since June 1, and was expected to reach Norway on Thursday.
(With inputs from agencies)
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