For a few days in mid-August, Wendy's (NASDAQ: WEN) traded like a company about to be taken private. Reports surfaced on Aug. 12 that Trian Fund Management, Nelson Peltz's activist firm and a roughly 16% shareholder in Wendy's, was assembling a consortium to explore a buyout.
The stock ripped nearly 15% higher. That briefly pushed shares toward the $9 mark, putting WEN in the green for 2026.
