Wendy's (WEN +7.84%) becoming the next big meme stock wasn't exactly on my bingo card for 2026, but here we are. A surge of interest among Reddit (RDDT +14.24%) traders caused the beaten-down restaurant stock to soar by as much as 50% from its recent lows.
Wendy's stock has been nosediving over the past year, pushing its yield up significantly in the process. The company's earnings fell by 42% in its most recent quarter.
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Wendy's recently appointed a new CEO and CFO, both of whom have experienced reenergizing struggling brands. Wendy's stock has fallen more than 65% in the past five years.