The Wendy’s Company (NASDAQ:WEN) shares are extending gains into Monday following a two-day tear driven by heightened retail investor momentum, short squeeze speculation and a major leadership change.The Meme SetupRetail traders continue to pile into the fast-food chain, fueled by active discussions on online forums.The upward momentum accelerated after user u/ElegantCombination43 posted on WallStreetBets, urging traders to "save Wendy’s before it’s too late." A subsequent due diligence post titled "Fixing Her: A Wendy’s DD" by user Mr-Night-Owl further analyzed the company’s financials and turnaround strategy, drawing comparisons to historical meme stock runs.Short Squeeze MechanicsShort interest in Wendy’s stands at 38.04% of the float. This elevated level, combined with rising trading volume and high retail visibility, has triggered short-squeeze mechanics. As the stock price climbs, short sellers face pressure to cover their positions, which accelerates the upward movement.The CFO AppointmentAdding fundamental support to the retail momentum, Wendy’s appointed Steve Cirulis as CFO and Chief Strategy Officer, effective June 23. Cirulis succeeds Ken Cook and previously held identical roles at Potbelly under the current Wendy’s CEO Bob Wright.WEN Stock: Key Technical Levels To WatchKey levels are fairly clean here, with price sitting between a nearby round-number ceiling and a lower line in the sand support zone: