Wendy's shares rise again as retail traders fuel meme-stock rally
Wendy’s shares surge as retail traders fuel a meme-stock rally and fresh buzz See why online enthusiasm is driving the fast-food stock higher and turning heads
Wendy’s shares climbed again on Thursday after a sharp jump in the previous session, as retail traders continued to buy into the fastfood chain.
The stock rose about 12% in premarket trading, following a 25.7% gain on Wednesday. The move appears to be driven more by online enthusiasm than by company fundamentals, turning Wendy’s into a new favorite among memestock traders.
The rally began after Wendy’s named former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer. Discussion on Reddit and other trading forums helped amplify interest, with users framing the company as a turnaround story worth backing.