Wendy’s rockets 42% as meme-stock traders eye short squeeze and private buyout

Wendy’s exploded up to 42% intraday on June 24, halting for volatility after a viral WallStreetBets post called on traders to “save Wendy’s before it’s too late.”

The surge hit a stock that’s been crushed more than 70% from mid‑2023, even as new CEO Robert Wright and CFO Steve Cirulis step in and activist investor Nelson Peltz weighs a take‑private deal that could hand shareholders a buyout premium.

With up to a third of the float sold short and Q1 U.S. same‑restaurant sales down 7.8%, investors now face the key question: is this a sustainable turnaround story in the making, or just another momentum‑driven meme rally waiting to unwind.