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Wendy’s joins GameStop, AMC as latest meme stock. How to play it

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Retail traders are taking a fresh look at Wendy’s.

Shares of the fast-food chain surged about 26% to records on Tuesday after a post in Reddit’s popular WallStreetBets forum pitched Wendy’s as “the perfect stock” for the group on account of its signature products and “effective” social media presence.

It’s the latest so-called meme stock that has captured the group’s interest. The growing list includes GameStop, AMC and Bed Bath & Beyond.

Two market analysts cautioned investors about getting in on the hype.

“I think the reason the Reddit crowd is pushing it up today is because the retail share float is pretty small in Wendy’s, but I can guarantee you nothing changed overnight to change the…



Source cnbc.com

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