Hey Snackers,
There’s a big disparity between how concerned people feel about climate change as an issue personally and how they feel others are perceiving the threat: 51% of Americans think climate change presents a “very serious threat” to the country in the next 20 years, while just 10% think that their fellow citizens share that view. See where other countries rank on the climate change perception gap.
The S&P 500 and Nasdaq 100 fell yesterday, while the Russell 2000 gained. Energy was the worst-performing sector as oil prices slid, while industrials was the best performer. Micron posted a massive Q3 earnings beat after the bell, sending chip stocks higher in after-hours trading.
Wendy’s saw heightened attention from Reddit’s retail traders. The stock turned over its entire market cap in a day.
From flipping burgers to being flipped by retail traders: It seems Wendy’s may now be a meme stock?
How else to explain a Wednesday in which there was little news beyond a viral Reddit post that sent the stock up more than 25%?
Shares spiked 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.
By the time the session was through, more than $1.6 billion changed hands trading Wendy's on Wednesday — more than its entire market cap!
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.
There's been chatter that enthusiasm for Wendy's was tied to a potential operational turnover. The options market, however, tells a different story:
Call volumes of 384,000 more than doubled the previous daily record. And the four most traded contracts were all calls that expire this Friday, with strike prices of 8, 9, 10, and 8.5. Rome wasn't built in a day, and Dave Thomas' empire probably won't be rebuilt by the weekend.
It's meme-chasing for short-term gains, plain and simple.
The Takeaway
We’re not doctors, but pairing this with a short-lived meme stock of 2025, Krispy Kreme, could result in negative health outcomes.
Wendy’s could certainly use a shot in the arm to bolster its operations: trailing 12-month sales are flat and adjusted earnings per share for Wendy’s are lower since the end of 2023.
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Want the inside look on the stats, data, and insights going on in sports? Looking for the numbers behind the biggest stories in the World Cup? Interested in prediction markets and how to make money there? Check out Snacks’ newsletter Scoreboard. For instance, in yesterday’s Scoreboard:
Friday is going to be a wild day for World Cup games:
Circle this day on the schedule, because it will be the most hectic left in the group stage. In Group H, Cinderella Cape Verde faces Saudi Arabia to try and lock up a spot in the Round of 32 with a win (or a draw if Spain beats Uruguay). Spain is going for the group win in that one, but Uruguay has a fighting 37% chance to make the knockouts, which happens if they win (or if they draw and Cape Verde doesn’t win). Also pay attention to Senegal vs. Iraq (Group I) and Egypt vs. Iran (Group G); Egypt is in good shape to advance, but still has stakes for the group win (63%), while Senegal and Iran both sit with advancement odds in the 60s and need wins.
Prime Day is here again and Amazon’s subscription service has never been more popular
With over 200 million American shoppers using Amazon Prime as of the end of 2025, the subscription service is bigger than ever, with roughly 75% of American adults subscribed.Â
Trading the tech market?
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Snacks Shots
Group E @ 4 pm ET: 🇪🇨 Ecuador vs 🇩🇪 Germany / 🇨🇼 Curaçao vs 🇨🇮 Ivory Coast: Germany has a 56%* chance of beating Ecuador in what promises to be one of the more closely-watched contests of the day. Then, Curaçao is up against CĂ´te d'Ivoire to settle once and for all who has the most interesting characters in the spelling of their name, a contest where Ivory Coast is a robust 84% favorite.Â
Group F @ 7 pm ET: 🇯🇵 Japan vs 🇸🇪 Sweden / 🇹🇳 Tunisia vs 🇳🇱 Netherlands: Prediction markets give Japan a 54% of beating Sweden in a game that has stakes for seeding. Tunisia, which has already been knocked out, goes up against a powerhouse Dutch squad that is an 89% favorite to win.
Group D @ 10pm ET: 🇹🇷 TĂĽrkiye vs 🇺🇸 USA / 🇵🇾 Paraguay vs 🇦🇺 Australia: TĂĽrkiye is knocked out and the U.S. is locked in, so while the stakes are lower it’s actually poised to be one of the better matches of the day, with the US only 54% favorites. Still, the game to watch will be Australia-Paraguay, a contest in which each team’s goal is to simply not lose, and where the likeliest outcome is a tie at 44%.Â
*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
What else we're Snackin'
Yesterday, preorders for the Amazon-backed Slate Auto truck opened. The new American-made electric truck may not have a stereo or automatic windows, but it’s cheaper than the average used vehicle.
Reuters analyzed the cleats of starting lineups from each team’s opening World Cup match and found that pink was the most popular color, worn by 365 of the 528 starters.
This cat has outlasted six British Prime Ministers.
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Snack Fact of the Day
43% of Americans have lived in the same state for their entire lives.
Thursday
Premarket earnings: Darden Restaurants, McCormick, and BlackBerry.Â
May personal consumption expenditures (the Fed’s preferred inflation gauge).Â
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