Wendy’s (NASDAQ:WEN) meme run sends stock up $420 million on retail action
The Wendy’s Company keeps looking like a short-squeeze play, not a restaurant turnaround name. The burger chain's market cap stood near $1.63 billion early Thursday in New York, climbing about $420 million from what Tuesday's close implied after a 25.7% gain Wednesday and Thursday's move. That's more than double Wendy's projected full-year free cash flow of $190 million to $205 million.