Wendy’s spikes on heightened attention from Reddit’s retail traders
From flipping burgers to being flipped by retail traders:
It seems Wendy’s may now be a meme stock?
Shares are up over 30% in early trading, with the ticker being the most mentioned on the WallStreetBets subreddit over the past 12 hours, per SwaggyStocks.
As of 9:03 a.m. ET, more money had changed hands trading Wendy’s stock in the premarket than Microsoft, Palantir, Apple, Amazon, or Meta.
(I’m no doctor, but I think pairing this with a short-lived meme stock of 2025, Krispy Kreme, could result in negative health outcomes.)
User u/ElegantCombination43 recently tried to stir up support by posting in r/wallstreetbets that redditors “need to save Wendy’s before it’s too late,” adding that “we’ll all be out of a job” if it goes bankrupt.
On Tuesday morning, the fast food chain announced a C-Suite shuffle, hiring Steve Cirulis from Potbelly to serve as chief financial officer and chief strategy officer.
Wendy’s could certainly use a shot in the arm to bolster its operations: trailing 12-month sales and adjusted earnings per share for Wendy’s are flat and lower, respectively, since the end of 2023.
Anyhow, Wendy’s fries are superb and second to none. Don’t @ me.
