Wendy's Stock Soars 40% After Reddit Meme Sparks Frenzy
WHO:
Fast Company - Steve Cirulis has been appointed as the new chief financial officer and chief strategy officer of Wendy’s.
Fast Company - Ken Cook will remain in an advisory role until departing in July.
NY Post - Wendy’s Co. is the fast-food chain involved in the stock surge.
Bloomberg Markets - The meme-stock crowd is rallying behind Wendy’s.
WHAT:
Inc - Shares of Wendy’s rose 28 percent after the meme-stock crowd decided to rally around the brand.
Fast Company - Wendy’s stock price surged over 24% in premarket trading to $7.78 per share following the announcement of Cirulis’s appointment.
Fast Company - Wendy’s revenue fell 3.1% to $2.18 billion last year, with net income declining 15.1% to $165.1 million.
NY Post - Wendy’s stock surged over 40% following a viral Reddit post.
Bloomberg Markets - Wendy's stock increased by 37% after the same viral post.
NY Post - The rally briefly triggered a volatility halt.
WHERE:
Bloomberg Markets - The event is related to Wendy’s, a fast-food chain known for its Frosty, Dave’s Triple burger, and the Biggie Deal.
WHY:
NY Post - The stock surge appeared to have little to do with the company’s fundamentals.
HOW:
Fast Company - Wendy’s is currently shuttering hundreds of stores as part of a turnaround effort to cut costs and stabilize profits.
Fast Company - Under the leadership of Cirulis and Bob Wright at Potbelly, the company experienced a 500% increase in share price.
NY Post - The stock surge was ignited by a viral Reddit post that sparked a meme-stock frenzy.
(UPDATED June 24, 2026 23:22 UTC)
Shares of Wendy’s surged by twenty-eight percent after the meme-stock crowd rallied around the brand. This comes as Wendy’s is closing hundreds of stores as part of a turnaround effort aimed at cutting costs and stabilizing profits. The company is taking these steps to adapt to the changing market landscape while gaining support from enthusiastic investors.
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(UPDATED June 24, 2026 21:26 UTC)
Wendy's has announced the appointment of Steve Cirulis as its new chief financial officer and chief strategy officer, while Ken Cook will continue in an advisory role until his departure in July. Following this news, Wendy's stock price surged over 24% in premarket trading, reaching $7.78 per share, despite the company reporting a revenue decline of 3.1% to $2.18 billion last year. Under Cirulis's leadership at Potbelly, the company saw an impressive 500% increase in share price, raising expectations for his impact at Wendy's.
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(UPDATED June 24, 2026 19:37 UTC)
Wendy's stock has experienced a remarkable surge of over 40% after a viral Reddit post ignited a meme-stock frenzy, with Bloomberg reporting an increase of 37%. This rally was so significant that it briefly triggered a volatility halt, highlighting the power of social media in the stock market. Interestingly, this surge seems to have little connection to the company's fundamentals, as the fast-food chain is better known for its Frosty, Dave’s Triple burger, and the Biggie Deal.