Catenaa, Wednesday, June 24, 2026- The meme-stock Wendy’s rallied about 30% on Wednesday following a Reddit post, asking to save before it’s too late.
The fast-food chain is known for the Frosty, Dave’s Triple burger, and the Biggie Deal.
The company’s shares, which had been on a steady downward slide for the past three years, suddenly surged as much as 30% on trading on Wednesday.
There was no news announcement behind the jump. But the stock climbed the ranks in Stocktwits, sitting at the top of its trending page. The reason appears to be a post on Reddit, widely-followed WallStreetBets, which was later removed, that implored its members to “save Wendy’s before it’s too late.”
The burger chain fits the profile of those that day traders like to rally around now and again.
Its stock had tumbled over 70% since mid-2023. Short sellers have piled in, dumping borrowed stock, making it vulnerable to a price spike if they can’t find shares when they need to close out their bearish bets.
And it has solid nostalgia appeal, best known to Gen-Xers for its “Where’s the Beef” television ads in the 1980s.
The WallStreetBets page of Reddit has sparked bouts of meme stock mania in recent years as day traders regularly look for the next target.
Last year, Doughnut maker Krispy Kreme and tech-powered home flipper Opendoor Technologies saw their stocks surge as retail investors piled in.
Wendy’s is in the middle of a turnaround it seeks to improve sales.
On Tuesday, Wendy’s appointed Steve Cirulis as its new Chief Financial Officer, replacing Ken Cook, who will remain in an advisory position through July.
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.
The fundamentals remain challenging. Same-restaurant sales fell 8% in Q1 2026, and net income dropped 42%. But director Peter May recently bought shares at a price below Wednesday’s open, a sign that at least some insiders see value in the battered stock.
