Wendy's stock soars 30% as meme traders target another turnaround play (opens original article in a new tab)

Wendy's stock rose sharply in premarket trading as retail investors target the company as a potential turnaround play, driven by recent executive appointments and high short interest.

• Wendy's shares surged over 16% in premarket trading
• Retail investors are focusing on Wendy's after a 50% value loss in 12 months
• 23% of Wendy's free float is sold short, creating potential for a squeeze