Reddit Traders Push Wendy’s Stock Up Over 25%

Reddit traders on r/WallStreetBets drove Wendy’s shares up more than 25% on Wednesday after a post titled ‘We need to save Wendy’s’ received over 18,000 upvotes. Trading volume reached about 203 million shares, well above the stock’s typical daily turnover.

Wendy’s stock rose as high as $8.89 during the session and closed regular trading around $7.86. The share price had traded near $6.08 earlier in the week. The stock showed additional gains in after-hours trading.

Forum posts showed users reporting purchases of Wendy’s shares and long-option bets. The post read, ‘We need to save Wendy’s before it’s too late,’ and included the line, ‘If this company goes bankrupt, we’ll all be out of a job!’ The activity made Wendy’s one of the most-discussed names on social investment feeds.

Even with Wednesday’s increase, Wendy’s shares have fallen about 36% over the past year and roughly 66% over five years. The session saw a rise in options activity tied to bullish positions on the stock.

A token styled after the Wendy’s ticker on the Solana blockchain rose to about $439,000 in market capitalization within 24 hours. The Reddit user who started the thread linked to that token in their profile and a pinned comment referenced it. The token is not affiliated with The Wendy’s Company.

Representatives for Wendy’s did not provide comment through public channels during the trading session.