Retail investors rally behind Wendy’s after a Reddit post drives trading volume to over 203 million shares in a single day.
Wendy’s (WEN) shares jumped nearly 26% on Wednesday, fueled by a surge in retail investor interest on social media. The stock, which hit a low of $6.08 earlier in the week, closed at $7.86 after peaking at $8.89 during trading hours. After-hours activity suggested continued momentum, with shares rising further.
The rally follows a viral Reddit post on r/WallStreetBets urging traders to “save” Wendy’s, citing its 66% decline over the past five years. Trading volume exploded to 203 million shares, far exceeding the stock’s typical daily average of less than 10 million shares. The campaign mirrors the meme stock frenzy that previously targeted GameStop and other struggling companies.
No immediate market reaction from institutional investors was reported, though the spike in retail-driven activity underscored the ongoing influence of social media on stock movements.