{"id":2868,"date":"2026-06-24T22:40:03","date_gmt":"2026-06-24T22:40:03","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2868"},"modified":"2026-06-24T22:40:03","modified_gmt":"2026-06-24T22:40:03","slug":"wendys-hits-over-seven-month-high-as-retail-traders-spark-meme-like-rally","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2868","title":{"rendered":"Wendy&#8217;s hits over seven-month high as retail traders spark meme-like rally"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>June 24 (Reuters) &#8211; Wendy&#8217;s (WEN.O)<svg><\/svg><span>, opens new tab<\/span> highly shorted shares jumped to a \u200cmore than seven-month high on Wednesday as retail traders flocked to the beaten-down stock of the fast-food chain, in the latest meme-like rally.<\/div>\n<div>They were up 28.5% at $9 when trading restarted after multiple halts due to volatility. The shares \u200brose as much as 41.9% to briefly hit their highest level since November \u200b2025.<\/div>\n<div>The ticker was the #1 trending stock on retail investor forum Stocktwits on \u2060Wednesday morning. It also had the second-highest mentions over the last 24 hours \u200bon Reddit forum r\/WallStreetBets, according to sentiment aggregator SwaggyStocks.<\/div>\n<div>In the first half-hour of trading on \u200bWednesday, retail investors bought net $2.3 million worth of Wendy&#8217;s stock, building on purchases of $2.2 million earlier this week, according to Vanda Research data.<\/div>\n<div>As of last close, the shares have fallen more than 78% from their June \u200b2021 record highs, including a 24.9% drop this year, as it battles weak sales and \u200bpressure from an activist investor. It named a new CEO last month and a new finance chief on Tuesday.<\/div>\n<div>Short interest in \u200cWendy&#8217;s \u2060stock stood at 34% of its free float as of Wednesday, according to ORTEX. Bearish investors in the stock stare at $45 million in paper losses, if the gains hold.<\/div>\n<div>ORTEX co-founder Peter Hillerberg said the stock was primed for a &#8220;short squeeze,&#8221; but was not \u200bin one yet as \u200bmost short sellers were \u2060still near their entry price and not forced to cover their positions due to recent share weakness.<\/div>\n<div>&#8220;That only changes if the \u200brally keeps running,&#8221; he said.<\/div>\n<div>Wednesday&#8217;s move mirrors the Reddit-driven meme stock \u200bfrenzy of \u20602021, when amateur investors pushed up shares of video-game retailer GameStop (GME.N)<svg><\/svg><span>, opens new tab<\/span> and cinema chain AMC (AMC.N)<svg><\/svg><span>, opens new tab<\/span>, burning hedge funds on the other side of the trade.<\/div>\n<div>Most recently, car-rental company Avis Budget (CAR.O)<svg><\/svg><span>, opens new tab<\/span> \u2060in \u200bApril witnessed sharp share swings.<\/div>\n<div>Trading activity was robust, with more \u200bthan $790 million worth of Wendy&#8217;s shares changing hands as of 10:30 a.m. ET, around 11 times the one-year average of $68.4 million, according \u200bto LSEG data.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2866\">Brazil senator, Lula ally Wagner resigns from leadership amid corruption probe<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2864\">Trading Day: Tech jitters smother inflation relief<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2862\">Italy rebukes NATO\u2019s Rutte over remarks on US use of bases in Iran war<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wendy&#8217;s highly shorted shares jumped to a \u200cmore than seven-month high on Wednesday as retail traders flocked to the beaten-down stock of the fast-food chain, in the latest meme-like rally.<\/p>\n","protected":false},"author":1,"featured_media":2867,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[129],"class_list":["post-2868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-shareholder-activism"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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