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Wendy's stock soars as meme traders target another turnaround play
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- Wendy's shares surged in premarket trading Wednesday, fueled by a burst of retail investor enthusiasm that appears disconnected from the fast-food chain's latest executive appointment.
- The stock climbed more than 16% before the opening bell on heavy volume after Wendy's disclosed the appointment of former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer.
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Wendy's shares surged in premarket trading Wednesday, fueled by a burst of retail investor enthusiasm that appears disconnected from the fast-food chain's latest executive appointment.
The stock climbed more than 16% before the opening bell on heavy volume after Wendy's disclosed the appointment of former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer. While management changes can influence investor sentiment, the magnitude of the move suggests other forces may be at play.
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