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Wendy's Stock Surges Over 40% After WallStreetBets Reddit Post Amid High Short Interest
Wendy's stock ($WEN) rose 42% in its biggest single-day move since the 2020 pandemic rebound, following a since-deleted r/WallStreetBets post titled 'Save Wendy's before it's too late.' The surge occurred after the stock hit a 13-year low, with short interest at a record 26% of free float, fueling speculation of a short squeeze similar to GameStop. Wendy's had recently named Steven Cirulis, former Potbelly executive, as its new CFO, amid declining Q1 sales and net income.
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