‘We need to save Wendy’s’: How a perfect storm of conditions created the latest

Forget "Where's the beef?" When it comes to the Wendy's fast food chain, investors are asking "What's the meme?"

That's because Wendy's is at the heart of the latest meme stock frenzy, even drawing comparisons to the famed 2021 GameStop stock craze.

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The fast food stock rally began Tuesday, with a WallStreetBets Reddit post titled "We need to save Wendy's (1)" — the same day Stansberry Research noted the chain's stock hit a 13-year low following a five-year, 70% decline (2), not to mention the closure of hundreds of locations (3).

Spurred by a nostalgia-fuelled love of the brand — and the hiring of new CFO Steven Cirulis, formerly of Potbelly, who joins former Potbelly CEO Bob Wright in leading the company — retail traders jumped on the stock, boosting it by more than 25% on Wednesday (4).

The Wall Str

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/save-wendy-perfect-storm-conditions-164500645.html)