Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeInvestorWendy’s soars 42% following viral Reddit postThe stock climbed the ranks in Stocktwits, sitting at the top of its trending pageAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Signage promoting jobs at a Wendy’s restaurant in Brantford, Ontario on November 10, 2021. Photo by Peter J ThompsonThe 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.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe company’s shares, which had been on a steady downward slide for the past three years, surged as much as 42 per cent on Wednesday, triggering a volatility halt. It was the biggest jump since March 2020, when it joined other stocks in rebounding from the crash caused by the pandemic.There was no news announcement behind the jump. But the stock climbed the ranks in Stocktwits, sitting at the top of its trending page. The reason appears to be a post on Reddit Inc.’s widely-followed WallStreetBets — which was later removed — that implored its members to “save Wendy’s before it’s too late.”Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againThe burger chain fits the profile of those that day traders like to rally around now and again. Its stock had tumbled over 70 per cent since mid-2023. Short sellers have piled in, dumping borrowed stock, making it vulnerable to a price spike if others hoard shares when they need to close out their bearish bets. And it has solid nostalgia appeal, best known to Gen-Xers for its “Where’s the Beef?” television ads in the 1980s.“This is definitely another iteration of meme stock mania,” said Jim Salera, an analyst at Stephens. “Wendy’s is a classic American brand that many of the retail traders likely have fond memories of, similar to the nostalgia that was tied to GameStop.”The WallStreetBets page of Reddit has sparked bouts of meme stocks mania in recent years as day traders regularly look for the next target. Last year, Doughnut maker Krispy Kreme Inc. and tech-powered home flipper Opendoor Technologies saw their stocks surge as retail investors piled in.Wendy’s is also in the middle of a turnaround it seeks to improve sales. On Tuesday, Wendy’s appointed Steve Cirulis as its new chief financial officer, replacing Ken Cook, who will remain in an advisory position through July. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.