Wendy's gets the meme stock treatment after Reddit's WallStreetBets calls for a rescue

The Wendy's Company (NASDAQ:WEN) shares soared Wednesday greeting aft a since-deleted station connected Reddit's WallStreetBets forum urged members to "save Wendy's earlier it's excessively late," sending the banal sharply higher from adjacent 20-year lows.

The rally has the hallmarks of a classical retail trader squeeze. Wendy's banal had already fallen much than 70% since mid-2023, abbreviated sellers had piled successful against it, and the marque carries the benignant of nostalgic propulsion that tends to resonate with retail investors looking for a rallying cry.

The Reddit buzz landed alongside genuine news. Wendy's precocious named Steve Cirulis arsenic its caller CFO, a prosecute that caught the attraction of investors acquainted with his way record.

Cirulis antecedently served nether CEO Bob Wright astatine Potbelly, wherever the banal climbed astir 500% during their tenure together, fueling hopes for a akin turnaround astatine Wendy's.

The fundamentals stay challenging. Same-restaurant income fell 8% successful Q1 2026 and nett income dropped 42%. But manager Peter May precocious bought shares astatine a terms beneath Wednesday's open, a motion that astatine slightest immoderate insiders spot worth successful the battered stock.

Shares of Wendy's were up astir 27% by midmorning Wednesday.