Business
Meme-Stock Traders Rally Around Wendy’s
The meme-stock crowd has a new favorite burger chain.
Shares of Wendy’s WEN 6.41%increase; up pointing triangle have soared this week after legions of retail traders piled into the beaten-down restaurant operator, reviving a playbook that seeks to punish the haters (professional investors who short-sell stocks) for betting against the stock. And as investors had with GameStop, AMC Entertainment and other meme-stock favorites, Wendy’s new champions took to Reddit, the message forum app, to defend the fast-food chain and cheer on the rally.
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