Key facts
- Wendy's shares surged over 25% on Wednesday.
- Retail investors on Reddit's r/WallStreetBets forum are driving interest in Wendy's stock.
- Trading volumes for Wendy's shares saw a significant increase.
- A meme coin based on Wendy's stock has also seen a substantial jump in market capitalization.
- Despite the recent surge, Wendy's stock has experienced significant declines over the past year and five years.
Shares of fast-food chain Wendy's surged nearly 26% on Wednesday, driven by a renewed wave of interest from retail investors on Reddit's r/WallStreetBets forum. A post titled 'We need to save Wendy’s' gained significant traction, encouraging users to invest in the company, drawing parallels to the GameStop meme stock phenomenon. Trading volumes exploded, with over 203 million shares changing hands, a nearly 2,000% increase from the typical daily average. Despite the sharp rally, Wendy's stock remains down 36% over the past year and 66% over the last five years. A meme coin version of Wendy's stock, unaffiliated with the company, also saw its market capitalization jump by over 1,450% on the Solana blockchain.