Wendy's Hits 42% Intraday on June 24 as Retail Frenzy Drives Meme Stock Rally

According to market data, Wendy's (WEN-US) surged 42% intraday on Wednesday, June 24, triggering multiple circuit breakers. Retail investors net bought approximately $2.3 million of the stock within 30 minutes of market open, with total trading volume reaching $790 million—approximately 11 times the average daily level.

The rally was fueled by social media momentum across Stocktwits and Reddit's WallStreetBets forum. Wendy's short interest stands at 34% according to ORTEX data, creating potential short-squeeze dynamics if the rally continues, though most short positions remain near entry costs.

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