Wendy’s stock jumped more than 19% in premarket trading Thursday morning, after a rally that began with fast-casual turnaround headlines and a new wave of Reddit’s r/WallStreetBets memes urging users to “save Wendy’s.” The surge came after the shares closed We
Thursday morning, Wendy’s shares were already moving like a campaign—before the regular market even opened.
In premarket trading, the Wendy’s Company stock (Nasdaq: WEN) rose over 19%, fueled by pockets of the internet rallying for the fast food chain’s latest push back to health. The overnight jump followed a Wednesday close that was up more than 25%.
The idea isn’t subtle. One of the earliest posts circulating on Reddit on Wednesday night showed Wendy’s stock price down more than 72% over the last five years. The caption was blunt: “We need to save Wendy’s.”
That message landed with readers who have already watched restaurant stocks struggle as reduced foot traffic and tighter. “expendable” incomes hit the industry. Wendy’s. like many restaurant chains. has faced that pressure while working through a turnaround plan that includes closing hundreds of stores—moves that tend to improve long-term odds but can look brutal in the short term.
As the rally gathered momentum. Reddit users leaned into the meme language that turns financial volatility into something people can share. Memes featuring Wendy’s red-haired branding began popping up. including a post using Matthew McConaughey’s Wolf of Wall Street character with the line: “You gotta pump those numbers up. those are rookie numbers.” The post’s text in the read: “When you only buy one meals worth of wendys stocks.”.
Even inside the meme stream, the crowd’s behavior drew attention. A moderator commented that one user had submitted three very similar Wendy’s memes in rapid succession. writing: “I’ll approve this one since it has the most traction. but please be considerate of the rest of the feed and the other stocks not named Wendy’s.”.
At the time of publication, Wendy’s shares were up about 13%—with traders watching for a potential six-month high when the stock market opens.
Wendy’s says it’s pursuing a turnaround, but the market now has an additional story thread: retail traders trying to will the stock higher. Fast Company reached out to Wendy’s for comment on its new status as a meme stock, with an update pending if the company responds.
The more conventional forces behind the sudden optimism may be just as important as the memes. This week. Wendy’s announced it is bringing in new executive leadership—both a chief financial officer and a chief strategy officer. The CFO and strategy hires include Steve Cirulis. who comes from fast-casual chain Potbelly Sandwich Shop. where he held the same roles.
Those appointments arrive roughly one month after Wendy’s named a new CEO, Bob Wright, who previously worked at Potbelly. Wright had worked with Cirulis for five years, and at Potbelly they served as CEO and CFO respectively. The two roles were credited with raising the chain’s profits and share price. Potbelly, meanwhile, was sold last year and is now privately held.
The sequence now feels familiar to anyone who has watched meme-stock waves form: a long stretch of weakness becomes a rally point, a turnaround narrative provides a reason to hope, and internet momentum helps lift the stock faster than fundamentals can alone.
Wendy’s may still be measured by its store closures, margins, and foot traffic—but Thursday’s trading has made one thing clear. For now, “save Wendy’s” isn’t just a post. It’s part of how investors are showing up.
Wendy’s WEN Reddit r/WallStreetBets meme stocks stock market premarket trading Bob Wright Steve Cirulis Potbelly Sandwich Shop turnaround plan store closures