Wendy's gets the meme stock treatment after Reddit's WallStreetBets calls for a rescue
Key takeaways
- The rally has the hallmarks of a classic retail trader squeeze.
- Wendy s recently named Steve Cirulis as its new CFO, a hire that caught the attention of investors familiar with his track record.
- Cirulis previously served under CEO Bob Wright at Potbelly, where the stock climbed roughly 500% during their tenure together, fueling hopes for a similar turnaround at Wendy s.
Wendy's gets the meme stock treatment after Reddit's Wall Street Bets calls for a rescue Wendy's gets the meme stock treatment after Reddit's Wall Street Bets calls for a rescue Proactive uses images sourced from Shutterstock Proactive Wed, June 24, 2026 at 9:54 PM GMT+7 1 min read WEN RDDT The Wendy s Company (NASDAQ:WEN) shares soared Wednesday morning after a since-deleted post on Reddit s Wall Street Bets forum urged members to "save Wendy s before it s too late," sending the stock sharply higher from near 20-year lows.
The rally has the hallmarks of a classic retail trader squeeze. Wendy s stock had already fallen more than 70% since mid-2023, short sellers had piled in against it, and the brand carries the kind of nostalgic pull that tends to resonate with retail investors looking for a rallying cry.
The Reddit buzz landed alongside genuine news. Wendy s recently named Steve Cirulis as its new CFO, a hire that caught the attention of investors familiar with his track record.