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Barchart
Barchart
Anushka Dutta

Wall Street Bets Investors Are Bullish Again on Wendy’s. How to Play WEN Stock Amid a Meme Surge Here.

Wendys Reddit

Shares of restaurant chain operator The Wendy’s Company (WEN) gained 25.66% intraday on June 24. However, this surge was not predicated on the company’s fundamentals; it was driven by Wendy’s stock being actively discussed in the WallStreetBets community on Reddit.

After a new CFO appointment, the stock suddenly became popular in the famous retail trader community, with Vanda Research claiming Wendy’s as the most extreme case of abnormal retail buying on June 25. The short float on Wendy’s has risen to 32.04%, while the short interest ratio shows that short-sellers have 5.92 days to cover.

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