New meme stock Wendy’s soars 30% with trading halted at one point
A Wendy’s restaurant is seen in Austin, Texas, on November 10, 2025.
Brandon Bell | Getty Images News | Getty Images
Wendy’s Shares rose on Wednesday, driven by enthusiasm from retail investors who appeared detached from the fast-food chain’s latest executive appointment.
The stock climbed more than 42% on heavy volume at one point after Wendy’s announced the appointment of former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer. While management changes could impact investor sentiment, the magnitude of the move suggests other forces may be at play.
Trading was briefly halted by the New York Stock Exchange shortly after opening due to volatility. When it restarted, it rose to $8.89 per share. The stock was last up 30%.
Retail traders have increasingly turned their attention to the burger chain after the stock lost almost half its value in the past 12 months. Wendy was the second most mentioned stock on Reddit trading forums in the last 24 hours, according to data tracked by Swaggy Stocks.
Posts circulating on social media framed Wendy’s as a comeback and recovery play. A post on WallStreetBets titled “We should save Wendy’s” garnered significant traction. “We must save Wendy’s before it’s too late,” the user wrote. Other posts framed the fast food chain as a defeated consumer brand that retail investors could rally behind.
The surge in online interest is reminiscent of previous meme stock episodes like GameStop, when retail traders piled into beaten-down companies with escalating bearish bets against them.
This dynamic may be especially true for Wendy’s. Roughly 23% of the company’s float is currently sold short, according to S3 Partners, leaving the stock vulnerable to pressure if rising prices force bearish investors to close out positions.
— CNBC’s Nick Wells contributed reporting.
