Markets
Wednesday, 6/24, 03:30 PM
Reddit Traders Rally to 'Save Wendy's' as the Burger Chain Becomes a Meme-Stock Target
- Wendy's shares jumped more than 30% on June 24 — with trading briefly halted — after a 'Save Wendy's' campaign on Reddit's WallStreetBets pointed retail traders at one of the restaurant sector's most heavily shorted stocks.
- Analysts call it a classic short-squeeze setup, not a turnaround in the chain's struggling business.