Shares in fast-food chain Wendy's might be the next hot meme stock for retail investors hungry for a cause.
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Yahoo Finance's Josh Lipton takes a closer look at some of Wednesday's trending tickers and stories, including Broadcom's (AVGO) partnership with OpenAI (OPAI.PVT), Cerebras's (CBRS) first quarterly earnings report, and Wendy's (WEN) meme stock status.
Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select
Wendy's stock surged over 40% at intraday highs after a Reddit thread 'We need to save Wendy's went viral.

<body><p>STORY: Shares of Wendy's soared as much as 42% on Wednesday as retail traders flocked to the beaten-down stock in the latest meme-like rally.</p><p>:: Robinhood</p><p> Archive</p><p>Trading on the heavily-shorted stock was paused multiple times due to volatility, with shares at one point hitting a more than seven-month high.</p><p>:: Robinhood</p><p> Archive</p><p>Retail investors bought $2.3 million worth of Wendy's stock in just the first half-hour of Wednesday trading, building on purchases of $2.2 million earlier in the week, according to Vanda Research data.</p><p>The ticker was the #1 trending stock on retail investor forum Stocktwits Wednesday morning. It also had the second-highest mentions on Reddit forum r/WallStreetBets over the last 24 hours, according to market sentiment aggregator SwaggyStocks.</p><p>:: Wendy's</p><p>As of the last market close, shares of Wendy's had fallen more than 78% from their record highs five years ago, including a roughly 25% drop this year. The fast food chain is battling weak sales and pressure from an activist investor. Wendy's named a new CEO last month and a new finance chief on Tuesday.</p><p>Short interest in the stock stood at 34% of its free float as of Wednesday, according to financial analytics firm ORTEX.</p><p>Bearish investors in the stock are staring at $45 million in paper losses, if the gains hold.</p><p>Wednesday's move mirrors the Reddit-driven meme stock frenzy of 2021, when amateur investors pushed up shares of video-game retailer GameStop and movie theater chain AMC, burning hedge funds on the other side of the trade.</p></body>
Is Wendy's the next big meme stock?
A battered chart, heavy short interest, a new CFO, and WallStreetBets traders with a thing for redheads were enough to light the match
Wendy’s shares were up nearly 30% in Wednesday’s opening trade, with the stock surge resulting in a volatility halt after the markets opened for regular trading.
Cirulis succeeds Ken Cook, who has overseen the finance function since 2024.
The Wendy's Company (NASDAQ:WEN) shares soared Wednesday morning after a since-deleted post on Reddit's WallStreetBets forum urged members to "save Wendy's before it's too late," sending the stock sharply higher from near 20-year lows. The rally has the hallmarks of a classic retail trader...
Heavily shorted Wendy's stock is soaring after gaining traction on Reddit. The rally suggest a short squeeze is in action.
Wendy’s shares soared more than 20% today as the restaurant chain got attention from retail investors, who rallied behind the stock on social media. Users poured into a Reddit forum called “WallStreetBets”–known for sparking huge rallies of other so-called meme-stock trades like GameStop–yesterday evening with messages like, “We need to save Wendy’s before it’s too late.
Wendy’s (NASDAQ:WEN) stock is rallying in Wednesday morning trading, with shares up 31% to $8.22 after the burger chain named a new chief financial officer. It’s one of the biggest single-day moves the stock has seen in years. The spike is coming off deeply depressed levels. Wendy’s stock closed June 23 at $6.26, a price ... Wendy’s Soars 31% as “Save Wendy’s” Meme Army Targets Short Squeeze After New CFO Hire
(Bloomberg) -- The meme-stock crowd is rallying behind another beaten up American icon — Wendy’s Co., the fast-food chain known for the Frosty, Dave’s Triple burger and the Biggie Deal.Most Read from BloombergStocks Slide as Wall Street Gets AI Wake-Up Call: Markets WrapOracle Cut 21,000 Jobs in 12 Months, Says AI Replaced Some RolesInvestor Who Scored 900% Win in 2008 Crisis Has New Big Short Bet‘FOMO Really Got Me’: Taiwanese Go Deep Into Debt to Amp 100% Stock RallyKorean Stocks Tumble 10% as
Retail investors flooded into Wendy's stock after the struggling chain named a new CFO, with short interest above 23% fueling squeeze speculation
The Wendy's Company recently appointed Steve Cirulis as Chief Financial Officer and Chief Strategy Officer, effective June 23, 2026, succeeding Ken Cook, who will remain in an advisory role through July to support the transition. Cirulis’ long track record in restaurant finance and strategy, including a prior turnaround partnership with current CEO Bob Wright at Potbelly, adds a new leadership lever to Wendy’s efforts to address weak traffic, margin pressure and franchisee...
Wendy’s (NASDAQ:WEN) shares climbed 10. 8% in premarket trading after the restaurant chain announced the appointment of Steve Cirulis as Chief Financial Officer and Chief Strategy Officer, effective June 23, 2026.
Investors are betting the leadership change at Wendy’s could spark a turnaround and squeeze short sellers.
Steve Cirulis has joined Wendy’s as chief financial officer and chief strategy officer, replacing Ken Cook.
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Cirulis worked alongside Wendy's new CEO Bob Wright at Potbelly, where the two led a brand turnaround that produced a 500% increase in share price
Panera and McDonald’s veteran Steven Cirulis is stepping in as finance chief as the fast food chain struggles to reverse slumping sales and profit.
Wendy’s stock price has taken a beating over the past six months, shedding 24.1% of its value and falling to a new 52-week low of $6.24 per share. This may have investors wondering how to approach the situation.
The former Potbelly executive will also serve as chief strategy officer, and will replace Ken Cook, who guided Wendy’s for months while it looked for new leadership.
Steve Cirulis, who served alongside Wendy’s CEO Bob Wright at the sandwich chain, joins the troubled fast food brand in the midst of a turnaround.
Despite the slump, Wendy’s retail traders turned bullish, citing the dividend yield, turnaround efforts and buyout speculation.