The Wendy's Company (NASDAQ:WEN) shares are extending yesterday's 27% surge Thursday as retail traders continue to pile in, fueled by short squeeze speculation and a viral post on WallStreetBets that has kept the fast-food chain firmly in the spotlight.
Wendy's stock is charging ahead with explosive momentum.
What's fueling WEN momentum?
The Meme Setup Short interest in Wendy's sits at 37% of the float—a notably high level that has historically drawn attention from momentum-driven traders looking for asymmetric upside.
The move began when user u/ElegantCombination43 drummed up support on WallStreetBets with a viral post urging traders to "save Wendy's before it's too late." A follow-up due diligence post titled "Fixing Her: A Wendy's DD" by user Mr-Night-Owl added fuel to the fire, breaking down the company's financials, new management, and turnaround efforts.
