The Wendy’s Co (NASDAQ: WEN) is trading significantly higher on above-average volume Tuesday as retail traders push the stock higher.
What Happened: A post on r/wallstreetbets nominating Wendy’s as a potential stock to target recently picked up traction.
The post listed the company’s new summer food options, international expansion and growth acceleration as a result of the reopening as reasons for highlighting the stock.
Related Link: Is Wendy’s The Next Reddit Rally Stock?
Wendy’s opened its doors in the United Kingdom on June 2.
The company also announced the release of its new Summer Strawberry Chicken Salad on Monday.
“From our Jalapeño Popper Chicken Salad to our Southwest Avocado Salad and now, our new Summer Strawberry Chicken Salad, we consistently lean into on-trend ingredients to give our customers flavorful salad options they can’t find anywhere else,” said Carl Loredo, U.S. CMO of Wendy’s.
WEN Price Action: Wendy’s has traded as low as $18.86 over a 52-week period. It reached a new all-time high today.
At last check Tuesday, the stock was up 24.2% at $28.49.
Photo courtesy of Wendy’s.
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