Wendy’s surged 42% intraday on June 24, as a retail frenzy fueled a meme-stock rebound. According to market data, Wendy’s (WEN-US) was up 42% during trading on Wednesday, June 24, triggering multiple market halts. Within the first 30 minutes after the open, retail investors net bought about $2.3 million worth of the stock, bringing total trading volume to $790 million—around 11 times the daily average. This rally was driven by social-media buzz on Stocktwits and Reddit’s WallStreetBets forum. According to ORTEX data, Wendy’s short interest ratio is 34%, and if the uptrend continues, it could develop into a short-squeeze scenario, although most short positions are still near their entry cost.

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