Wendy’s On the Rise In Latest Wallstreetbets Meme-Stock Saga

Published on: 08 Jun, 2021

Shares of Wendy’s Co. (NASDAQ: WEN) have soared over 20% from yesterday’s close as members of Reddit’s Wallstreetbets forum have fueled another meme driven rally. In the last 24 hours, the fast food chain has jumped from 19th place to 6th on the list of Reddit’s trendiest stocks. Users on Wallstreetbets have been posting ‘Chicken Tendies’ in jest, a term used to reference one’s profit on any given stock. Wendy’s has taken note of the Wallstreetbets fueled rally as a spokesperson for the Company stated, "We’re aware of the unusual trading activity this morning and we’re closely monitoring.”

Earlier this year, Wallstreetbets members sent a clear message to hedge funds that they would artificially pump any stock with massive short interest that they deem is unjustified. However, unlike other stocks targeted by Reddit users, including AMC Entertainment Holdings, Inc. (NASDAQ: AMC), Gamestop Corp. (NYSE: GME), and Clover Health Investments Corp. (NASDAQ: CLOV), Wendy’s does not have any significant short interest with just about 4.6% of its share float shorted. Ironically enough, Wendy’s top shareholder is a hedge fund, Triad, which owns a 12% stake in the Company.

Wendy’s recently beat analysts’ first quarter earnings expectations with USD 460.2 Million in revenue. The Company's U.S. sales have also risen 13.5%, as Americans feel more comfortable dining at restaurants with the rollout of COVID-19 vaccines. CNBC Mad Money host Jim Cramer seems to approve of this latest ‘meme-stock’ rally as earlier he tweeted, “Wendy's ($WEN) a huge favorite of @MadMoneyOnCNBC gets nice push from Reddit. I think it deserves to be higher.”

Ratings

Ratings
  • 10741Views
  • 14Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Leeor Sellouk

Email: leeor@financialinsiders.com

@Newsletter

Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

16 Jun, 2017 3713
28 Jun, 2017 2907
10 Jul, 2017 2897
10 Jul, 2017 3004

14 Comments

Announc

Jun 29, 2021 at 10 16 pm

generic kamagra[/url]

REPLY (0)

Ageneta

Jul 03, 2021 at 03 52 am

REPLY (0)

Ageneta

Jul 14, 2021 at 03 34 pm

lasix shop

REPLY (0)

Announc

Jul 17, 2021 at 07 36 am

buy tamoxifen withought prescription

REPLY (0)

Ageneta

Jul 31, 2021 at 03 44 pm

cheapest cialis online

REPLY (0)

Announc

Aug 04, 2021 at 03 03 pm

cialis online pharmacy

REPLY (0)

Ageneta

Aug 22, 2021 at 04 46 pm

cheap generic cialis

REPLY (0)

Announc

Aug 25, 2021 at 04 29 pm

where to buy cialis cheap

REPLY (0)

Mobile Application

Oct 02, 2021 at 06 53 am

Thank you for all of your effort on this website. My mother really likes making time for internet research and it's easy to see why. Almost all know all relating to the dynamic form you provide great guidance via your website and cause contribution from other individuals on that area plus our own princess is certainly studying a lot. Enjoy the rest of the year. You have been carrying out a dazzling job. blog
I always use url shortener
It is very helpful.

REPLY (0)

Mobile Application

Oct 03, 2021 at 11 43 pm

Thanks for all your valuable work on this website. My aunt really likes working on research and it's really simple to grasp why. My partner and i notice all regarding the compelling mode you present sensible strategies via this web site and therefore inspire response from other ones on the idea then my girl is now being taught a whole lot. Enjoy the rest of the new year. You're doing a wonderful job. blog
I always use url shortener
It is very helpful.

REPLY (0)

Mobile Application

Oct 04, 2021 at 02 39 am

Thank you for all your hard work on this web page. Ellie delights in conducting investigations and it's simple to grasp why. All of us notice all about the compelling medium you make invaluable solutions via your web site and even boost participation from some others on that idea while our simple princess is actually becoming educated a lot of things. Enjoy the remaining portion of the new year. You're performing a superb job. blog
I always use url shortener
It is very helpful.

REPLY (0)

Mobile Application

Oct 04, 2021 at 06 12 pm

Thank you for each of your work on this web site. Ellie delights in carrying out internet research and it is simple to grasp why. Most people notice all regarding the lively form you provide practical ideas on this website and cause contribution from visitors about this concept then my simple princess is without question understanding so much. Enjoy the remaining portion of the year. You are always doing a superb job. blog
I always use url shortener
It is very helpful.

REPLY (0)

Mobile Application

Oct 04, 2021 at 09 34 pm

A lot of thanks for all of your work on this site. Betty enjoys making time for research and it is easy to understand why. Many of us notice all concerning the lively tactic you create vital guidance by means of your web site and in addition inspire contribution from other individuals on this idea so our favorite simple princess is being taught so much. Have fun with the rest of the year. Your doing a glorious job. blog
I always use url shortener
It is very helpful.

REPLY (0)

Mobile Application

Oct 07, 2021 at 07 01 am

I enjoy you because of your own work on this site. My niece enjoys doing investigations and it's really easy to understand why. Almost all hear all relating to the powerful medium you present sensible items via the blog and as well welcome contribution from the others on this issue then our favorite princess is without a doubt starting to learn so much. Have fun with the rest of the year. You have been conducting a really good job. blog
I always use url shortener
It is very helpful.

REPLY (0)